Cairo – Mubasher: Juhayna Food Industries reported a 27.6% year-on-year decrease in its profits in the first quarter of 2017.
Profits reached EGP 58.25 million in the three-month period ended 31 March 2017, compared to EGP 80.41 million in the prior-year period, according to the consolidated financial statements which took minority rights into consideration.
The standalone statements showed that the company turned to losses worth EGP 5.9 million in Q1-17, against EGP 71.5 million in profits in Q1-16.
Net losses increased to EGP 1.2 billion in Q1-17 from EGP 1.1 billion in Q1-16, the consolidated income statement said.
