Egypt's Juhayna logs $18.03mln profit in nine months

Cairo – Juhayna Food Industries posted an 18.6% year-on-year profit decline during the first nine months of 2019.

Net profits dipped to EGP 291 million during the January-September period of 2019, compared to EGP 357.5 million in the year-ago period, including minority shareholders’ rights, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

Meanwhile, the company’s sales increased to EGP 5.7 billion in the nine-month period ended 30 September from EGP 5.4 billion in the same period of 2018.

As for the third quarter of 2019, the Egyptian firm logged a net profit of EGP 111.3 million, compared to EGP 119.5 million in Q3-18.

At the level of standalone financials for the January-September period, Juhayna Food Industries reported a net profit of EGP 126.3 million, up from EGP 74.59 million in the prior-year period.

It is worth mentioning that during the first half of 2019, the EGX-listed firm’s net profit retreated to EGP 179.64 million from EGP 238.42 million in H1-18.