Egypt - Edita Food Industries announced on Sunday that it launched a new production line to raise the company’s production capacity by 20% at an investment cost of EGP 135m.
More specifically, Menna Shams Al-Din — Head of Investor Relations at Edita — said that the company plans to raise its production capacity in the cake and baked goods sectors.
She also told Daily News Egypt that the goal is to keep pace with the high demand for its products, especially the Molto croissants.
Moreover, she pointed out that the new line will raise the production capacity to 11,000 tonnes annually, which represents an annual growth rate of 20% for the total production capacity of the baking goods sector.
Furthermore, the company disclosed that its net profit rose at an annual rate of 57% to EGP 162.4m during the first quarter (1Q) of this year, accompanied by a profit margin of 10.4%, compared to 8.9% in 1Q 2021.
Meanwhile, revenues amounted to EGP 1.559bn — an annual growth rate of 33.7%.
The company attributed this growth to its implementation of a proactive strategy that focuses on improving final prices and diversifying its range of innovative products during 4Q 2021, through which it was able to partially overcome inflationary pressures amid the devaluation of the EGP.
Previously, Edita decided to establish an Egyptian holding company that would undertake the activity of participating in the establishment of entities that issue securities or increase capital with an issued capital of about EGP 5m. This is in addition to establishing an Egyptian joint stock company to work in microfinance with an issued capital of EGP 15m as a minimum.
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