Arab Finance: Juhayna Food Industries (JUFO) posted an 85.42% year-on-year (YoY) surge in consolidated profit attributable to the parent company during the first nine months of 2023, according to financial statements filed to the Egyptian Exchange (EGX) on November 2nd.

The company’s consolidated profit excluding minority interest decreased to EGP 878.623 million in nine months to September 30th from EGP 473.861 million a year earlier.

Net sales surged to EGP 11.653 billion in January-September from EGP 8.161 billion the year before.

Furthermore, Juhayna reported a standalone net loss after tax of EGP 2.767 million from January to the end of September, compared to a net profit of EGP 81.151 million in the same period last year.

Founded in 1983, Juhayna is an Egypt-based company specializing in producing, processing, and packaging dairy, juice, and cooking products.

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