Juhayna Food Industries has announced its consolidated results for the first quarter (Q1) of 2020, reporting a 2.7% year-on-year growth in total consolidated revenues, reaching EGP 1.8bn. The company also reported net profits of EGP 114m during the same quarter of the year.
The highest contributors to the top line were the dairy and yoghurt segments, representing 55% and 20% of revenues in Q1 2020, respectively. Sales of dairy products reached EGP 980m, yoghurt sales accounted for EGP 361m, and juice sales accounted for EGP 316m.
”We began seeing the effects of the coronavirus pandemic during the second half of March, and we took all the necessary precautionary measures,” Juhayna Food Industries said, “We have been planning for different scenarios to ensure the safety of our working environment and to guarantee our procurement, manufacturing and sales operations remain intact.”
The company added that it was appreciative of the measures taken by the government to maintain the manufacturing and production process by lowering policy interest rates and reducing energy prices.
“Also, the easing of the movement of raw materials and end products in the market has facilitated our operations in these times,” the company said.