Egyptian Tycoon Safwan Thabet’s Juhayna Sees $340M Revenue in 2023

Juhayna Food Industries, a significant Egyptian dairy, juice, and cooking food producer led by notable businessman Safwan Thabet and his family, reported strong financial results in 2023, with revenue exceeding $340 million. This strengthens its position as a regional leader in the fast-moving consumer products business.

According to the group’s 2023 financial statement, Juhayna’s income increased by 42 percent, rising from EGP11.36 billion ($240 million) in 2022 to EGP16.12 billion ($340 million) in 2023.

This was driven by the Juhayna brand’s growing importance in the North African food market, as well as increased demand for the company’s varied variety of branded snack products. As a result, the group’s after-tax profit increased by 60%, from EGP638 million ($13.47 million) in 2022 to EGP1.21 billion ($25.5 million) in 2023.

Juhayna Food Industries, an indigenous firm, has made investments in the manufacture, processing, and packaging of dairy, juice, and cooking items. The company has established its market position by operating in five business segments within the food-processing industry and agro-allied segment.

Safwan Thabet, a notable Egyptian businessman and key figure in North Africa’s consumer products industry, who founded Juhayna about four decades ago, owns a majority 50.07 percent ownership in the company through Pharon Investments Limited.

Impressed by the company’s outstanding performance, the board of directors has recommended cash dividends of EGP0.2 ($0.00422) per share for fiscal year 2023. This decision demonstrates Juhayna’s dedication to provide strong returns to its shareholders, strengthening its position as a dependable investment option in the region’s market.

Juhayna Food Industries’ remarkable financial results for 2023 demonstrate the company’s endurance and strategic prowess in navigating North Africa’s dynamic fast-moving consumer products business. With continuing innovation and a strong dedication to quality, the company is set for long-term growth and success.

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