Cairo – Mubasher: Juhayna Food Industries on Sunday reported an 83% year-on-year increase in its consolidated profits for the third quarter of this year.

Net profit amounted to EGP 119.6 million in the three-month period ended September, up from EGP 65.3 million in the prior-year period, Juhayna said in a filing to the Egyptian Exchange (EGX).

The Egyptian dairy products firm has generated nearly EGP 1.9 billion in sales in Q3-18, versus EGP 1.68 billion in the year-ago period.

In the first nine months of 2018, profits climbed to EGP 359.48 million, versus EGP 150.86 million in the same period a year earlier.

At the level of standalone business, the company’s profits grew to EGP 79.67 million in the January-September period from EGP 71.77 million in the corresponding period last year.

Juhayna previously posted a 180.3% year-on-year hike in its consolidated profits for the first half of 2018, recording EGP 239.8 million from EGP 85.5 million, including minority shareholders’ rights.

The company logged EGP 3.48 billion in sales during the six-month period ended June, versus EGP 2.86 billion in the prior-year period.