Egypt's Juhayna to invest LE750m in 2012

Ahram Online, Sunday 11 Mar 2012

Dairy producer will inject funds into building a new yoghurt plant and expanding its farm production, says a statement from the firm

Juhayna
(Photo: Juhayna company logo)

Egyptian dairy producer Juhayna has unveiled plans for LE750 million worth of additional investments in 2012 as it attempts to boost its production capabilities.

The listed company said in statement on Thursday it will begin the construction of a new yogurt plant, due to cost LE328 million and be partially-financed with borrowing from Egypt's Commercial International Bank (CIB).
 
Juhayna also said it would continue building a dairy farm as well as six new distribution centres.
 
Stock in the company lost 3.13 per cent of its value on Egypt's stock exchange on Sunday, closing at LE4.64 per share.
 
Juhayna is one of Egypt's major producers of dairy products and juices but hasn't been immune from the country's economic downturn.
 
The company's net profits fell 18.4 per cent on the year before to reach LE186 million in 2011.
 
Exports to Libya account for around 70 per cent of the firm's overseas sales. Civil war in Egypt's neighbour, however, meant sales there shrank by a half, bringing in just LE15 million for Juhayna.
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