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Juhayna Food Industries Q1 profit climbs 12.2% YOY

Juhayna Food Industries SAE said its normalized net income for the first quarter amounted to 8 Egyptian piastres per share, compared with the S&P Capital IQ consensus estimate of 8 piastres per share.

EPS climbed 12.2% year over year from 7 piastres.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 70.7 million pounds, an increase of 12.2% from 63.0 million pounds in the year-earlier period.

The normalized profit margin declined to 6.4% from 7.3% in the year-earlier period.

Total revenue climbed 27.5% on an annual basis to 1.10 billion pounds from 866.5 million pounds, and total operating expenses climbed 29.4% from the prior-year period to 953.3 million pounds from 736.9 million pounds.

Reported net income increased 23.4% from the prior-year period to 80.4 million pounds, or 9 piastres per share, from 65.1 million pounds, or 7 piastres per share.

As of April 20, US$1 was equivalent to 8.88 Egyptian pounds.