date:May 16, 2014
Egypt's largest dairy product and juice makers, Juhayna Food Industries said on Thursday its net income for the first quarter of 2014 dropped 55 percent from the first quarter of last year, citing a rise in milk prices.
Its quarterly net income stood at 43 million pounds.
The impact of rising raw and powdered milk prices - and the company's decision to only partially pass those on to consumers - pressured margins, the company said in a statement.
Juhayna said its revenue for the quarter grew