Juhayna sales volume drop 20-30% y-o-y, Ramadan to provide bump

Juhayna says its sales volume across all offerings dropped 20-30% y-o-y, but its market share remains intact, the company’s management said in its 1Q2017 earnings call. The call’s notes from Pharos Holding say that “management has indicated that volumes improved in April, and in line with expectations, so far May is the best month in 2017 due to Ramadan preparations and June is expected to even be a better month as Ramadan-effect kicks in.” Juhayna said in the call, also covered in Al Borsa, that it will invest EGP 400 mn this year, not in expansion, but in maintaining production levels.