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Juhayna revenues jump 15% in 3Q2018


: Juhayna Food Industries (JUFO), a leading Egyptian dairy, yogurt and juice manufacturer, announced today its consolidated results for the third quarter ending 30 September 2018, reporting a 14.6% y-o-y increase in revenues to EGP 1.9 billion. Net profit for the quarter recorded EGP 120 million in 3Q18.
On a year-to-date basis, Juhayna booked revenues of EGP 5.4 billion in 9M18, up 19% y-o-y. Net profit for the nine-month period came in at
EGP 359.5 million, Juhaynas dairy and juice segments were the highest contributors to total consolidated revenue, recording shares of 49% and 23%, respectively in 3Q18. On a nine-month basis, the dairy and yogurt segments made the greatest contributions at 48% and 23%, respectively.
Highlights of Juhaynas financial and operational results along with managements commentary on performance in the quarter follow
below. Drawn from the fact that Juhayna operates in a highly competitive environment, management believes that it is in the best interest of shareholders to suspend disclosure of detailed segment analysis information.
MANAGEMENT COMMENT
As we approach the final months of the year, it is increasingly apparent that Juhayna has successfully delivered on its strategic objective of driving sales growth and protecting profitability. Our results for the quarter saw us deliver a 15% year-on-year increase in 3Q2018 revenues and a 19% growth on a year-to-date basis for 9M2018. This robust performance is driven first and foremost by Juhaynas strong brand equity that has allowed the company to maintain its leading position despite operating in an increasingly competitive environement. Furthermore, following a period that was characterized by diminishing purchasing power, our continued focus on stimulating demand through increased marketing and promotional activities is today seeing us recapture a larger share of consumers wallets.
Parallel to driving top-line growth, Juhaynas tight rein on operating expenses – including keeping inventory levels in tune with market dynamics, maintaining an efficienct workforce, limiting debt and debt servicing expenses and driving overall operational efficiencies – saw us extract higher value from our operations with a more than twofold increase in our bottom-line for nine-month period to EGP 359.5 million, yielding a net profit margin of 6.6%. Our outlook for the remainer of the year see us recording strong full-year growth in-line with our targets as well as robust profitability. We look forward to reporting to you here on a full-year that is sure to reflect Juhaynas strategic success and managements dexterity in driving growth and maximizing value to all our stakeholder.

Time Added: 2018-10-21 12:25:44
Source: Arab Finance
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