Cairo – Mubasher: Juhayna Food Industries announced Monday that consolidated revenues for the second quarter of 2016 (Q2) rose 21% year-on-year to EGP 1,333 million, according to a press release.
Net income dropped to EGP 30 million, lower 54% from EGP 65 million in the same period last year.
On a first half basis, Juhayna reported a 24% increase in total consolidated revenue to EGP 2,437 million in H1-16.
Net income stood at EGP 110 million, a 15% decrease compared to H1-15, while net profit margin also slid to 4.5%.
The highest contributors to the top line remained the dairy and yogurt segments, representing 42% and 30% of revenues respectively in Q2-16 as well as 46% and 26%, respectively in H1-16, the press release indicated.
“Revenue growth during the first half was mainly driven by an increase in the yogurt and juice segments’ revenues, which climbed 24% and 50% y-o-y to EGP 640 million and EGP 519 million respectively in 1H16”, according to the release.
Both segments contributed over 63% of the group’s annual increase in total consolidated revenues during the period, the press release concluded.
