Egypt: Juhayna’s consolidated profits rise 21% in 2022; revenues hit $367mln

Egypt: Juhayna’s consolidated profits rise 21% in 2022; revenues hit $367mln

Cairo – Juhayna Food Industries registered consolidated net profits after tax worth EGP 637.99 million in 2022, an annual hike of 21% from EGP 526.38 million, including non-controlling equity.

The sales amounted to EGP 11.36 billion in 2022, higher by 29% year-on-year (YoY) than EGP 8.80 billion, according to the income statements.

Earnings per share (EPS) grew to EGP 0.68 as of 31 December 2022 from EGP 0.56 a year earlier, while the total assets climbed to EGP 6.36 billion from EGP 5.45 billion.

Consolidated Results for Q4-22

During the fourth quarter (Q4) of 2022, Juhayna recorded a 351% YoY hike in net profit to EGP 164 million.

Meanwhile, the revenues enlarged by 40% to EGP 3.20 billion in Q4-22 from EGP 2.28 billion in Q4-21.

Standalone Income Statements

The company witnessed an annual drop in standalone net profit after tax to EGP 362.12 million in 2022, versus EGP 381.29 million.

Non-consolidated EPS went down to EGP 0.31 last year from EGP 0.33 during January-December 2021, whereas the total assets plunged to EGP 3.01 billion from EGP 3.28 billion.

Seif Thabet, CEO of Juhayna, said: “Despite the unprecedented challenges on the global and local fronts, our company has managed to overcome them with resilience and agility.”

Thabet added: “We have