Cairo – Mubasher: Juhayna Food Industries recorded consolidated net profits after tax worth EGP 339.41 million in the first quarter (Q1) of 2023, an annual jump of 135% from EGP 144.41 million, including minority interest.

The net sales climbed by 42% year-on-year (YoY) to EGP 3.42 billion in the January-March 2023 period from EGP 2.40 billion, according to income statements.

Earnings per share (EPS) stood at EGP 0.36 in Q1-23, higher than EGP 0.15 as of 31 March 2022.

Standalone Financial Results

The company’s standalone net losses after tax reached EGP 1.32 million during the first three months (3M) of 2023, compared to EGP 1.29 million in the year-ago period.

Non-consolidated sales declined to EGP 939,920 in Q1-23 from EGP 970,000 in Q1-22, while the loss per share remained unchanged at EGP 0.001.

In 2022, Juhayna witnessed 21% YoY higher consolidated net profits after tax at EGP 637.99 million, versus EGP 526.38 million, including non-controlling equity.