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Egyptian food company Juhayna to reduce investment in 2017
February 16, 2017 / 8:19 AM / 10 months ago

Egyptian food company Juhayna to reduce investment in 2017

CAIRO, Feb 16 (Reuters) - Egypt’s Juhayna Food Industries will reduce investment in 2017 because of a decline in purchasing power and will increase prices by 5-7 percent this year, the company’s Chief Executive told Reuters.

Juhayna, Egypt’s largest dairy products and juices producer, expects a fall in first-quarter profit, CEO Seif El Din Thabet said, adding that results should begin to improve in the second quarter.

Reporting by Ehab Farouk; Writing by Amina Ismail; Editing by David Goodman

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