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Juhayna Food Industries Q1 profit climbs 77.0% YOY

Juhayna Food Industries SAE said its first-quarter normalized net income came to 7 Egyptian piastres per share, compared with the S&P Capital IQ consensus estimate of 7 piastres per share.

EPS climbed 76.9% year over year from 4 piastres.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 63.0 million pounds, a gain of 77.0% from 35.6 million pounds in the prior-year period.

The normalized profit margin rose to 7.3% from 4.4% in the year-earlier period.

Total revenue grew 6.7% year over year to 866.5 million pounds from 812.2 million pounds, and total operating expenses came to 736.9 million pounds, compared with 733.9 million pounds in the year-earlier period.

Reported net income rose 50.9% from the prior-year period to 65.1 million pounds, or 7 piastres per share, from 43.2 million pounds, or 5 piastres per share.

As of May 22, US$1 was equivalent to 7.63 Egyptian pounds.