Cairo – Mubasher: Juhayna Food Industries on Sunday reported a 12% year-on-year rise in consolidated profits of the third quarter of 2017 due to a growth in sales.
The company achieved profits of EGP 65.3 million in the three-month period ended September 2017, versus EGP 58.18 million in the prior-year period, Juhayna said in a filing to the Egyptian Exchange (EGX).
Sales surged 34% to EGP 1.68 billion in Q3-17 from EGP 1.25 billion in Q3-16.
At the level of the nine-month period ended September 2017, profits retreated to EGP 150.8 million, compared to EGP 168.43 million in the year-ago period.
Standalone profits fell 18.35% to EGP 71.77 million in the nine-month period of 2017, versus EGP 87.9 million in the corresponding period of 2016.
Juhayna had previously posted that its consolidated profits dropped 8.5% year-on-year in Q2 due to higher expenses and cost of sales.
By the end of Thursday’s trading session, Juhayna’s stock rose 4.88% to EGP 8.39 at a turnover of EGP 1.18 million.
