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April 18, 2016

Sales, profits up at Egypt’s Juhayna Food Industries

Juhayna Food Industries, the Egyptian dairy-to-juice group, has reported a rise in first-quarter sales and profits.

Juhayna Food Industries, the Egyptian dairy-to-juice group, has reported a rise in first-quarter sales and profits.

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The company a 23% increase in net profit to EGP80m (US$9m). EBIT rose 15% to EGP150m.

Sales grew 27% year-on-year to EGP1.1bn.

Juhanya’s dairy division, which manufacturers liquid milk, cheese and cream, saw sales rise 12% to EGP549m (US$61.8m). Yoghurt sales increased 18% in the period to EGP238m.

Last year, Juhayna entered into a joint venture with Arla Foods last May that saw the company distribute the dairy giant’s products in the country. Juhayna said sales from its distribution of Arla products in the quarter were EGP25m.

In a letter to its shareholders, together with the results, Juhayna revealed it has secured an EGP136m loan from Qatar National Bank which it said will “support its expansion plans and ensure its capability to keep up with increasing demand”.

Safwan Thabet, chairman and CEO, added: “We look forward to building on our previous successes and to further solidify our ability to meet consumer demand and create shareholder value even amidst the challenges facing the Egyptian economy.”

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Identify the trends of tomorrow using filings sentiment analysis

Business sentiment continues to improve, showing a clear recovery since the onset of COVID-19. Sentiment in 2021 was up by 8% compared to 2020.   Consumer industries had the highest sequential filings sentiment growth in Q3 2021. Optimism around digital themes and general outlook drove the positive trend in overall business sentiment.   GlobalData’s Filing Analytics Annual Report 2021 on the Consumer industries provides insights into sentiment and mention trends for companies, geographies, and themes. Get real-time analysis of:  
  • Quarterly & annual reports 
  • Earnings call transcripts 
  • IPO filings 
  • Events presentations 
  • ESG filing trends  
Understand the overall outlook for Consumer and spot the topics and themes that will be most impactful in the next few years.   Download the full report to understand what to expect and how to align your business for success.  
by GlobalData
Enter your details here to receive your free Report.

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