Juhayna 2011 bottom line drops 18.4 pct

Ahram Online, Tuesday 6 Mar 2012

Net profits of Egypt's most recognised milk and juice producer dips to LE188 million in 2011


Egyptian dairy producer, Juhayna, said its 2011 net profit dropped 18.4 per cent below 2010 to reach LE186 million, according to financial indicators released Monday.

Net profit for Egypt's most recognised milk producer had reached LE228 million in 2010.

The company missed both the estimates of Cairo based investment bank Beltone Financial and Bloomberg consensus by 12 and 22.5 per cent, respectively.

Beltone financial explains that the economic circumstances of the Egyptian economy has taken its toll on Juhayna, especially their juice lines.

Furhter details on the company's performance are not available yet as Juhayna's full financial statements have not been released. It is expected to be published later on Tuesday. 

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