Back to the complete issue
Tuesday, 11 February 2020

Juhayna profits fall 19% in 2019

EARNINGS WATCH- Juhayna profits fall 19% in 2019: Juhayna Food Industries’ profits fell 19% last year despite the company seeing a bump in revenue, according to the company’s earnings statement (pdf). Net income at the dairy company fell to EGP 329 mn from EGP 406 mn in 2018 even as revenues rose 7% to hit EGP 7.6 bn. Quarterly profits fell 19% y-o-y in 4Q to reach EGP 38 mn, despite increasing revenue to EGP 1.8 bn, up 8% on the year.

NBK-Egypt reports net profits of EGP 2.17 bn: The National Bank of Kuwait–Egypt announced profits of EGP 2.17 bn in 2019, up 8% from EGP 2 bn the previous year, according to its earnings release (pdf). The bank attributed the increase to rising revenues, which increased by 12% year-on-year to EGP 3 bn.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.