Cairo – Mubasher: Juhayna Food Industries sales grew 15% y-o-y in 2015, reaching EGP 4.2 billion, said Safwan Thabet, Chairman.
The company consolidated net profits leaped 65% y-o-y to EGP 280 million in 2015.
Juhayna has already injected EGP 344 million in investments to implement expansion plans regards its distribution network and to bolster its production capacity, noted Chairman.
Previously, Juhayna entered a joint venture with dairy producer Arla Foods to establish a new company named Argo.
Elaborated, the chairman stated that the company secured three-medium term loans worth EGP 480 million in the third quarter of 2015, to support the expansion plan and enhance the capital efficiency.
“We foresee market recovery in 2016, especially the local food production sector”, said Thabet.
Earlier, the leading manufacturer of dairy-based products said it plans to inject EGP 600 million ($76 million) in investments in 2016, in the framework of its expansion plan.
Juhayna reported an increase of 64.6% in net profits for the fiscal year ended 31 December 2015.
The company’s profits stood at EGP 279.9 million in 2015, up from EGP 170.1 million a year earlier.
