Edita Food Industries (EFID) reported a 145.6% year-on-year (YoY) growth in consolidated net profit attributable to owners of the parent for the first quarter (Q1) of 2023, according to the firm’s financial statements sent to the Egyptian bourse on May 29th.
Consolidated net profit attributable to owners of the parent company stood at EGP 398.659 million in Q1 2023, compared to EGP 162.319 million in Q1 2022.
Sales amounted to EGP 2.779 billion in the three-month period ended March 31st, up from EGP 1.558 billion in the year-ago period.
Edita’s standalone net profits after tax amounted to EGP 327.179 million during the January-March period of this year, up from EGP 169.727 million in the same period a year earlier.
Founded in 1996, Edita is an Egypt-based leader in the packaged snack food market.
It manufactures, markets, and distributes a range of branded baked snack products, including packaged cakes, croissants, rusks, and wafers, as well as selected confectionery and candy products.
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