Juhayna Food Industries
It clarified that this is due to the company's non-compliance with sending the financial statements for the fiscal year ending on December 31, 2020.
Egyptian authorities have held Sayed Sowerky, owner of the giant retail chain, with branches all over Egypt, and Safwan Thabet, CEO of the Juhayna Food Industries company, over joining and financing terrorism.
During the third quarter of 2019, Juhayna recorded consolidated profits of LE 111.3 million, compared to LE 119.5 million during the same period of 2018.
The company's cost of sales during the first half of this year amounted to LE 2.59 billion, compared to LE 2.42 billion in the comparable half of last year.
As per standalone profits, the company accomplished profits of LE 138.68 million, compared to LE 88.19 million in the same quarter in 2018, with an increase of 57.25 percent.
The consolidated gross profit increased 17.52 percent to reach LE 1.59 billion, compared to LE 1.35 billion in the same nine months of 2017.
As per standalone profit, Juhayna marked a profit of LE 84.68 million, compared to LE 75.63 million during the same half of 2017, with an 11.97 percent increase.
As per standalone profit, Juhayna turned into profitability in Q1 of 2018 by LE 88.19, compared to loss of LE 5.9 million in Q1 of 2017.
Juhayna’s consol net profit increased in the third quarter (Q3) of 2017 to LE 65.4 million, compared with LE 58.2 million in the same period last year.
Pharos Holding maintained the fair value (FV) for Juhayna Food Industries at LE 8.88, with an Overweight recommendation.
Juhayna Food Industries' revenues leveled up 17 percent to LE 2.86 billion in the first six months of 2017.
Pharos holding concluded that four companies will be excluded after EGX reviewed the stocks listed on EGX30 on the period from February to August on a certain criteria.
