Egypt's Juhayna posts 42 pct drop in Q3 net profit

Wednesday 12-11-2014 PM 04:56
Egypt's Juhayna posts 42 pct drop in Q3 net profit
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CAIRO, Nov 12 (Reuters) - Juhayna Food Industries, one of Egypt's largest dairy product and juice makers, reported on Wednesday third-quarter net profit of 53.769 million Egyptian pounds ($7.52 million), a 42.3 percent drop from the previous year.

The company said in a statement its revenue for the three-month period to the end of September reached 1.008 billion pounds, up 15.1 percent on the same period last year.

Juhayna told Reuters last month it expects its profits to recover in 2015 after an increase in the cost of raw materials squeezed margins this year. ($1 = 7.1500 Egyptian pound) (Reporting By Stephen Kalin, editing by David Evans)

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