My Blog
Food

Qatar’s Baladna buys more shares in Egyptian dairy peer Juhayna

Qatar’s Baladna buys more shares in Egyptian dairy peer Juhayna
Qatar’s Baladna buys more shares in Egyptian dairy peer Juhayna


Baladna, the Qatar-based dairy group, has acquired another tranche of shares in Egypt’s Juhayna Food Industries.

In almost two years, Baladna has built a shareholding in Juhayna of more than 15%. Its latest purchase – of 600,000 shares on 26 June – took its stake from 10% to 15.03%. The shares cost E£7.4m ($239,000).

In a stock-exchange filing today (30 June), Baladna said it wanted to grow within Qatar and overseas.

“Investment decisions are based on very detailed analysis of the market,” the filing read. “[The] Egypt market, with a population [of] more than 100 million, is a large and promising food and beverage market. Being the market leader, Juhayna is expected to benefit most from the market growth with a strong distribution network.”

According to data from GlobalData, Just Food’s parent, Egypt’s market for dairy and soy food is forecast to be worth $5.07bn, up from $3.56bn in 2022.

Publicly-listed Juhayna produces and markets dairy and juice products.

The company, set up in 1983, has four production facilities.

In 2022, Juhayna generated revenue of E£11.36bn, up 29% on a year earlier. The company’s net profit stood at E£638m, 21% higher year on year.

In the first quarter of 2023, the group booked a 42% jump in revenue to E£3.4bn. Its net profit more than doubled to E£339m.

Baladna, based north of Doha, has three factories making dairy products, juices and packaging.

It posted a 27.5% increase in revenue to QR985.6m in 2022. However, the company’s net profit dropped almost 40% to QR80.6m.

In the opening three months of 2023, Baladna saw its revenue rise 6.3% to QR254.4m. Its net profit of QR20m was down more than 20% on the corresponding period a year earlier.

During the quarter, Baladna announced a deal to make The Laughing Cow cheese in Qatar for brand owner Groupe Bel.

Related posts

Umiami plans new meat-free factory with fresh funding in hand

newsconquest

Corrugated packing containers: Without equal expression of a round economic system

newsconquest

FMCG Gurus

newsconquest