Juhayna Jumps Most on Record as Unit to Receive Insurance Payout

Juhayna Food Industries (JUFO), Egypt’s biggest producer of packaged milk, rose the most on record after one of its units completed an insurance compensation agreement for a 2010 factory fire.

Shares of the Cairo-based company climbed 10 percent, the most since they were listed in June 2010, to 4.29 Egyptian pounds at 11:50 a.m. in Cairo. The benchmark EGX 30 Index (EGX30) gained 5.3 percent.

Juhayna said its unit, the Egyptian Co. for Food Industries, has signed the final agreement for a 93.7 million- pound ($15.6 million) insurance settlement.

To contact the reporter on this story: Ahmed A Namatalla in Cairo at anamatalla@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.