UPDATE 1-New plants help Juhayna H1 net more than triple

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Tue Aug 10, 2010 10:15am EDT

* H1 net profit 100.4 mln Egyptian pounds vs 29.1 mln year ago * Shares close down 1.5 pct * Chairman says profit rose as firm opened new factories (Adds chairman's comment, closing share price)

CAIRO Aug 10 (Reuters) - Egyptian dairy and juice maker Juhayna Food Industries' (JUFO.CA) net profit more than tripled in the first half, helped by three new plants.

The company, which in June carried out Egypt's first initial public offering since 2008, made a profit of 100.4 million Egyptian pounds ($17.7 million) in the first six months, up from 29.1 million a year earlier, the bourse said on Tuesday.

The group recently started operations at three new factories, boosting profits, Chief Executive Safwan Thabet told Reuters by telephone.

In June, the company targeted full-year 2010 net profit of 225 million pounds, up from 185 million last year. [ID:nLDE65406R]

Fire damaged buildings and equipment at the firm's "Egyfood" factory on the outskirts of Cairo in April. Production has been halted at the factory, which was worth 300 million pounds.

Thabet said the fire had little impact on profits and the new factories had compensated for losses from the blaze.

Juhayna makes milk, dairy products and juices and has export markets across Africa and the Middle East. Its clients include McDonald's Corp (MCD.N).

Its shares rose 0.8 percent after the results, but closed down 1.5 percent. The main Egypt share index .EGX30 ended up 0.3 percent. ($1=5.669 Egyptian Pound) (Reporting by Alexander Dziadosz and Ehab Farouk; Editing by Michael Shields)

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