Juhayna Food Industries, a leading Egyptian dairy, juice, and cooking product manufacturer led by prominent businessman Safwan Thabet and his family, delivered a robust financial performance in 2023, with its revenue soaring above $340 million. This cements its position as a leader in the fast-moving consumer goods industry within the region.
According to the group’s 2023 financial statement, Juhayna’s revenue surged by an impressive 42 percent, climbing from EGP11.36 billion ($240 million) in 2022 to EGP16.12 billion ($340 million) in 2023.
This was fueled by the growing prominence of the Juhayna brand in the North African food industry, coupled with heightened demand for the company’s diverse range of branded snack products. As a result, the group’s profit after tax surged by 60 percent, rising from EGP638 million ($13.47 million) in 2022 to EGP1.21 billion ($25.5 million) in 2023.
Juhayna’s ownership and business operations
Juhayna Food Industries, a homegrown company, boasts investments in the production, processing, and packaging of dairy, juice, and cooking products. With operations spanning five business segments in the food-processing industry and agro-allied segment, the company has solidified its presence in the market.
Safwan Thabet, a leading Egyptian businessman and prominent figure in North Africa’s consumer goods industry and the founder of Juhayna nearly four decades ago, maintains a majority 50.07-percent stake in the company through Pharon Investments Limited.
Commitment to shareholders
Impressed by the company’s stellar performance, the group’s board of directors has approved the distribution of EGP0.2 ($0.00422) per share in cash dividends for the fiscal year 2023. This move underscores Juhayna’s commitment to delivering significant returns to its shareholders, further solidifying its position as a reliable investment choice in the region’s market.
Juhayna Food Industries’ exceptional financial results for 2023 highlight its resilience and strategic prowess in navigating the dynamic landscape of the fast-moving consumer goods industry in North Africa. With continued innovation and a steadfast commitment to quality, the company remains poised for sustained growth and success in the years ahead.
