(Ecofin Agency) - The agrofood company Juhayna Food Industries made in Egypt, a net profit of EGP279 million ($36.6 million) for the 2015 year which ended on December 31^st. This represents an increase of EGP170 million compared to net profit in 2014.

The Egyptian Stock Exchange of course welcomed the news. The firm’s share on the bourse soared 1.86% on January 24, 2016. However, observers estimate that the share is still traded too low on the market.

In an analysis report published in November 2015, investment and research firm Renaissance Capital (Rencap) highlighted that the company’s growth potential was indeed significant and recommended a ‘buy’ for Juhayna’s share with a target price of EGP10 (presently at EGP7.5). Rencap explained its recommendation saying that despite external and internal headwinds, Juhayna Food made a “full recovery operationally”.