What:
In 2023, Juhayna Food Industries achieved a remarkable 60% increase in profits, soaring to EGP 1.1 billion up from EGP 638 million in 2022. This substantial growth was primarily driven by launching new products, better managing of working capital, and optimizing cash flow processes.
Sales Spike:
The company’s revenue blender mixed up sales to the tune of EGP 16.1 billion in 2023, up from EGP 11.4 billion the previous year. This surge in sales is attributed to a mix of new product launches, efficient use of working capital, and enhanced cash flow cycles.
A Twist in the Tale:
However, it wasn’t all smoothies and cream for Juhayna. On a standalone basis, the company faced a downturn, recording a loss of EGP 4.1 million in 2023, a stark contrast to the EGP 362 million profit in 2022. This loss is linked to the absence of production and sales activities from Q2-14 and the lack of periodic profit distribution from subsidiary companies last year.
