Edita’s consolidated profits up 27% YoY in Q1 2024

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Edita Food Industries (EFID) reported a 27% year-on-year (YoY) growth in consolidated net profits attributable to the parent company for the first quarter (Q1) of 2024, achieving EGP 506.254 million, versus EGP 398.66 million, as per a disclosure.

Sales amounted to EGP 3.927 billion in the three-month period ended March 31st, up from EGP 2.78 billion in the year-ago period.

Edita’s standalone net profits after tax came in at EGP 406.004 million during the January-March period of this year, up from EGP 327.179 million in the same period a year earlier.

Meanwhile, standalone sales rose to EGP 3.142 billion from EGP 2.243 billion.

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.