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Edita to review cash dividends

Edita to review cash dividends

ArabFinance: Edita Food Industries (EFID) called for holding an ordinary general meeting (OGM) on March 30th to review the distributing EGP 0.20 per share for 2019.

The OGM will discuss the financial results and appropriation account for 2019.

In February, Edita’s board of directors proposed cash dividends of EGP 145,072,580, by EGP 0.20 per share.

The company posted consolidated net profits of EGP 409,468,406 in 2019, compared to net profits of EGP 336,895,825 in the same period a year ago, including minority shareholders’ rights.

Moreover, it posted standalone net profits of EGP 440,348,144, compared to net profits of EGP 328,817,143 in the same period last year. 

Edita, founded in 1996 and headquartered in Egypt, is a leader in the growing Egyptian packaged snack food market. The Company’s local brand portfolio includes household names such as Todo, Molto, Bake Rolz, Bake Stix, Freska and MiMix.

The Company also has the exclusive ownership of the international HTT brands Twinkies, Hoho’s and Tiger Tail in Egypt, Libya, Jordan, Palestine, Morocco, Algeria, Tunisia, Syria, Lebanon, Iraq, Bahrain, Oman, the UAE, Kuwait, Qatar and Saudi Arabia; and is party to a technical assistance and know-how agreement to manufacture 11 additional HTT brands across its territories. The Company holds strong number-one market positions in its core cake and croissant segments as well as in candy, a number-two market position in rusks and a growing market position in the wafers segment.

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