Cairo Poultry sees revenues rise 23% in 1Q

Cairo Poultry saw its top line jump 23.2% y-o-y in 1Q 2024 to EGP 3.4 bn, “driven by increased prices across all products, highlighting the company’s resilience in the face of supply and demand challenges caused by foreign currency shortage,” according to its latest earnings release (pdf). The company’s bottom line remained unchanged y-o-y at a record EGP 555.4 mn, matching last year’s record high.

What they said: “Despite challenging market conditions and constrained consumer spending power, the company continues to demonstrate robust performance,” the statement read. “The company’s fully integrated operations provide a buffer against market fluctuations.”