Juhayna Food Industries
Juhayna Food Industries, the Egypt-based dairy and juice business, has decided to postpone any new investment projects, focus on improving efficiency and rely more on sourcing inputs domestically in a bid to boost profits in 2017 after a slump in earnings last year.
Egyptian dairy group Juhayna Food Industries has reported a drop in earnings, which were hit by forex, despite posting revenue growth during the first nine months of the year.
Juhayna Food Industries, the Egypt-based dairy group, has booked higher first-half sales but a fall in profits, with the company pointing to "instability" in its domestic market.
Egyptian dairy-to-juice firm Juhayna Food Industries has said it plans to expand the production capacity of all of its business units during 2016.
Juhayna Food Industries, the Egyptian dairy-to-juice group, has reported a rise in first-quarter sales and profits.
The UK debate over sugar intensified this week with Public Health England calling for a series of measures to reduce consumption. In the US, Campbell Soup Co. and The Schwan Food Co. both made pledges to simplify the ingredient panels in some of their products. In China, PepsiCo announced the opening of the first Quaker Oats plant in the country. Here is the week in quotes.
Egyptian juice and dairy manufacturer Juhayna Food Industries has reported a jump in nine-month profits on the back of higher liquid dairy and yoghurt sales.
Chinese food group Beingmate and Yurun Food this week issued profit warnings as the economic slowdown in the country takes its toll on food makers. In the UK, Hilton Food Group was hampered by the strength of sterling but, on a more upbeat note, UK cake maker Finsbury Food Group said it will "outperform" expectations. Here are this week's results in brief.
The US Department of Agriculture's development of GMO certification scheme emerged this week, adding to the debate over the labelling of foods containing genetically modified ingredients. Elsewhere in the US, Mondelez International revealed jobs will go at a biscuit plant in Chicago. Meanwhile, dairy giant Arla Foods announced a deal in Egypt with local processor Juhayna Food Industries.
This week, Arla Foods struck a notable deal in Egypt, with plans for a local venture with Juhayna Food Industries. Elsewhere, Unilever announced CFO Jean-Marc Huet would step down from his post and Thorntons said CEO Jonathan Hart had decided to leave the business. Premier Foods announced its annual results and CEO GavinDarby said the UK group would continue to focus on revamping its range.
South Africa's Tiger Brands grabbed the headlines this week with news of the over-stating of sales at its Kenyan arm inflating local profits last year. Elsewhere, Ireland's Total Produce lifted its earnings forecast and said it was on the look-out for more M&A. UK meat group Cranswick reported mixed annual results.
Kellogg has outbid private equity firm Abraaj in the race to acquire Egyptian snack firm, Bisco Misr.
The Egyptian Financial Supervisory Authority has cleared a bid from Abraaj Investment Management for the takeover of Bisco Misr.
Juhayna Food Industries, the Egyptian dairy-to-juice group, booked lower third-quarter profits as higher input costs offset sales gains in the third quarter.
Egyptian dairy group Juhayna Food Industries has made a takeover bid for local biscuit and cake manufacturer Bisco Misr.
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