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.
The company reported an 18% drop in EBIT, which fell to EGP112m (US$15.7m) during the three months to 30 September. Net earnings were down 48% to EGP13m.
Go deeper with GlobalData
Juhayna attributed its lower profits to “a nearly 23% surge in cost of goods sold” due to rising raw material prices and increased finance expenses.
Sales were up 15% to EGP1bn. Growth was supported by strong expansion in its dairy business which gained 26% in value terms and saw 12% volume growth.
Click here to view the announcement.
See Also:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
