Arab Finance: Juhayna Food Industries (JUFO) posted a 60% year-on-year (YoY) surge in consolidated profit attributable to the parent company during 2023, according to financial statements filed to the Egyptian Exchange (EGX).

The company’s consolidated profit excluding minority interest decreased to EGP 1.021 billion in 12 months to December 31st from EGP 638 million a year earlier.

Net sales surged 42% to EGP 16.128 billion in January-December from EGP 11.364 billion in 2022.

Furthermore, Juhayna reported a standalone net loss after tax of EGP 4.1 million from January to the end of December, compared to a net profit of EGP 362 million in the same period in 2022.

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

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