Juhayna’s Q1 income drops 55%

May 20, 2014 9:29 am

Egyptian dairy goods and juice maker, Juhayna Food Industries has said its consolidated results for the first three months of this year saw a 55% drop in net income to EGP43m, compared with a net profit EGP95.87m in the same quarter a year earlier, Arab Finance has reported. The decline is attributed to the rising raw and powdered milk prices and that the company decided to only partially pass those increases on to the consumers which pressured margins, Juhayna said.