Earnings watch: Juhayna

EARNINGS WATCH- Juhayna reported a 28% y-o-y drop in its net income in 1Q2017 to EGP 58 mn, according to its earnings release. Revenues for the quarter were up 17% y-o-y, registering EGP 1.29 bn. Juhayna says “the highest contributor to the top-line in 1Q2017 remained to be the dairy segment at 48%, with the yogurt and juice segments coming in second and third, representing 20% and 19% of consolidated revenues, respectively. Revenue growth during the quarter was largely driven by price increases applied gradually throughout the previous quarters.”