Juhayna reports 39% hike in Q1 prof­its in dairy, yo­ghurt seg­ment

The Daily News Egypt - - NEWS - By El­sayed Soly­man

Juhayna Food In­dus­tries, a lead­ing Egyp­tian dairy, yo­ghurt, and juice man­u­fac­turer, an­nounced on Mon­day its con­sol­i­dated re­sults for the first quarter (Q1) of 2018,re­port­ing a 21% year-over-year rise in to­tal con­sol­i­dated rev­enue to EGP 1.53bn.

Net profit reached EGP 81m dur­ing the first quarter of 2018, an increase of 39% com­pared to Q1 2017. Also, the net profit mar­gin in­creased to 5.2% com­pared to last year’s 4.5%.

The high­est con­trib­u­tors to the top line are the dairy and yo­ghurt seg­ments, rep­re­sent­ing 51% and 20% of rev­enues in Q1 2018.

Drawn from the fact that Juhayna op­er­ates in a highly com­pet­i­tive en­vi­ron­ment, its man­age­ment be­lieves that it is in the best in­ter­est of share­hold­ers to sus­pend disclosure of de­tailed seg­ment anal­y­sis information.

Juhayna reached EGP 1.553bn in rev­enue,with a growth of 21%,in 2017 and a net profit of EGP 81m in Q1 2018 with a growth of 39%.

In Q1 2017, the com­pany saw im­prove­ment in net profit mar­gins due to a de­crease in debts and costs of debts, in ad­di­tion to the en­hance­ment in pur­chas­ing power and the ef­fect of the mea­sures the com­pany has taken.

“We are con­fi­dent that Juhayna will achieve its fu­ture ob­jec­tives to cre­ate share­holder value,” the com­pany said in a state­ment.

Egypt’s pi­o­neer­ing dairy pro­ducer is fo­cus­ing on the African market due to the huge increase in Egyp­tian ex­ports to the con­ti­nent’s ma­jor mar­kets last year, he high­lighted, not­ing that ex­ports soared by 200% yearover-year to $7.3bn.

Given that, Juhayna had posted a EGP 297.7m in profit in 2017, com­pared to EGP 53.6m a year ear­lier.

At the level of stand­alone prof­its, the Egyp­tian dairy prod­ucts firm turned prof­itable in Q1 2018 with EGP 88.19m in profit, against a loss of EGP 5.9m in Q1 2017.

Juhayna`s net profit reached EGP 81m dur­ing the first quarter of 2018, an increase of 39% com­pared to Q1 2017

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