Arab Finance: Ismailia National Food Industries (Foodico) saw a 97.98% year-on-year (YoY) increase in its net profits after tax during 2023, according to the firm’s financial statement sent to the bourse on February 14th.
Foodico achieved net profits after tax of EGP 19.245 million in the 12-month period ended December 31st, 2023, compared to EGP 9.721 million a year earlier.
Net sales hit EGP 157.300 million last year, up from EGP 100.385 million in 2022.
Foodico is an Egypt-based company engaged in the food industry. The company is involved in the production of vegetables, fruits, and agricultural products such as juices and beverages, in addition to manufacturing, freezing, canning, and drying vegetables, fruits, and legumes, among others.