Juhayna: Net Profit Falls 55.6% in Nine Months

Egypt-based Juhayna Food Industries, one of the country’s largest dairy product and juice makers, said on Thursday its net profit during the first nine months of 2014 had fell by 55.6%.

The company’s 9-month net profit tumbled to 136.8 million Egyptian pounds ($19.1 million) from 308.2 million a year earlier.

The dairy product and juice maker (JUFO.CA) further added in a statement that sales surged to 2.8 billion pounds in the first nine months of 2014, ended on September 30, from 2.5 billion during same comparable period last year.

Juhayna, the leading Egyptian producer & distributor of premium dairy, yoghurt, juice and concentrate products, was founded in 1983 with a paid-up capital of EGP 1.296 million Egyptian pounds. The company has 7 factories in addition to 26 logistical sales points nationwide.