Egypt's Juhayna records 30% y-o-y increase in net profit to EGP 428m in 2020
Published 19 Sep,2021 via Daily News Egypt - Juhayna Food Industries has announced its audited consolidated results for 2020, reporting revenues of EGP 7.6bn, with flat growth, as growth in the dairy and fermented segments was offset by the declines in juice, concentrates, and agriculture segments.
The company’s revenues in the fourth quarter (Q4) of 2020 amounted to EGP 1.9bn, recording top-line growth of 4%, led by a 20% increase in yoghurt sales.
In 2020, Juhayna’s net profit amounted to EGP 428m, realizing an increase of 30% despite a capital loss of EGP 35m due to the sale of unutilized agricultural assets and reduction of agricultural land, with net profit margin increasing by 1.3% to reach 5.6%.
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Daily News Egypt