Juhayna Food Industries reported consolidated net profits of EGP 1.48 billion in the first half (H1) of 2024, a 166% increase compared to EGP 556.43 million in H1-23. Net revenues rose by 69% year-on-year (YoY) to EGP 11.47 billion, up from EGP 6.80 billion, according to the company’s consolidated financial results.
Earnings per share (EPS) surged to EGP 1.57 in the first six months of 2024, up from EGP 0.59 a year earlier. Total assets also increased, reaching EGP 11.65 billion as of 30 June 2024, compared to EGP 8.58 billion at the end of December 2023.
Standalone Results:
Juhayna reported standalone net losses of EGP 4.23 million in H1-24, compared to EGP 2.41 million in the same period of 2023. Loss per share widened to EGP 0.004 from EGP 0.003.
Q2-24 Financials:
In Q2-24, Juhayna’s consolidated net profit surged to EGP 1 billion, up from EGP 217.01 million in Q2-23. Revenues for the quarter climbed 70% to EGP 6.03 billion, compared to EGP 3.55 billion in the same period last year. The EPS for Q2-24 increased to EGP 1.06, up from EGP 0.23.
However, the company recorded a standalone net loss of EGP 3.01 million in Q2-24, compared to a net profit of EGP 203,884 in Q2-23.
In Q1-24, Juhayna generated consolidated net profits after tax of EGP 478.74 million, compared to EGP 339.41 million in Q1-23.