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Egypt’s Baladna, a part of the Qatari food industries company, has raised its stake in Juhayna Food Industries to 15.03%. Baladna bought 600,000 shares of Juhayna, with a total value of EGP 7.4m The Egyptian market, with a population of more than 100 million people, is a large and promising market for the food and beverage sector.
Egypt’s Baladna, a part of the Qatari food industries company, has raised its stake in Juhayna Food Industries to 15.03%. Baladna bought 600,000 shares of Juhayna, with a total value of EGP 7.4m The Egyptian market, with a population of more than 100 million people, is a large and promising market for the food and beverage sector.
Juhayna is a leading company in the market and is expected to achieve greater returns in light of the expected market growth and the availability of a strong distribution network. This comes at a time when Baladna continues to increase its stake in Juhayna, which amounted to 12.6% in January 2023. Juhayna Food Industries targets long-term investments worth EGP 400m, of which EGP 93m has already been pumped, which focuses mainly on manufacturing and distribution.
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The company’s consolidated net profits increased by 135% to reach EGP 339.4m during the first quarter of this year, compared to EGP 144.4m in the comparative quarter of last year.Net sales rose to EGP 3.4bn during the period January-March 2023, compared to EGP 2.4bn in the corresponding period.
