Juhayna lowers its 2016 investment plan to EGP500mn from EGP640mn
Juhayna Food Industries (JUFO.CA) announced that it would lower its investment plan for 2016 to EGP500mn from EGP640mn. Accordingly, the company will carry on all projects that are under construction, putting off any new investments. On another note, the company is planning to lower its raw materials imports, given the USD shortage and will depend more on locally-sourced raw materials and animal feed. (Mubasher) Juhayna: EGP3.90 as of 25 October 2016, Rating: Buy, FV: EGP7.00 per share, MCap: USD413mn, JUFO EY / JUFO.CA
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