Juhayna profits fall 19% in 2019

EARNINGS WATCH- Juhayna profits fall 19% in 2019: Juhayna Food Industries’ profits fell 19% last year despite the company seeing a bump in revenue, according to the company’s earnings statement (pdf). Net income at the dairy company fell to EGP 329 mn from EGP 406 mn in 2018 even as revenues rose 7% to hit EGP 7.6 bn. Quarterly profits fell 19% y-o-y in 4Q to reach EGP 38 mn, despite increasing revenue to EGP 1.8 bn, up 8% on the year.

NBK-Egypt reports net profits of EGP 2.17 bn: The National Bank of Kuwait–Egypt announced profits of EGP 2.17 bn in 2019, up 8% from EGP 2 bn the previous year, according to its earnings release (pdf). The bank attributed the increase to rising revenues, which increased by 12% year-on-year to EGP 3 bn.