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Monday, 4 July 2022

Juhayna sees 16% rise in profits in 1Q2022

Juhayna’s net income rose 16% y-o-y to EGP 142 mn in 1Q2022, according to the company’s unaudited consolidated results laid out in their earnings release (pdf). The company’s revenues rose 29% during the period to EGP 2.4 bn.

The breakdown: The company’s revenues were led by the dairy segment, which saw a 31% increase EGP 1.3 bn, followed by fermented products which recorded EGP 585 mn in revenues, up 28% from 1Q2021.

What they said: “Juhayna carried over the momentum from 2021 into the first quarter of

the new year to deliver strong top-line results, growing 29% yoy, mainly attributable to solid consumer recovery as consumers are back to their normal daily lives and normal spending habits,” CEO Niels Thomsen said.

Moving forward: “Going forward, we continue to focus on launching high-margin, premium quality, consumer-driven products while maintaining our controlled capital expenditure policy,” Thomsen said.

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