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Edita registers 23% profit increase

Edita registers 23% profit increase

ArabFinanceEdita Food Industries (EFID) posted a consolidated net profit before minority interest of EGP 103.477 million in quarter one (Q1) 2021, according to the company’s May 10th financial statements filed to the Egyptian Exchange.

This marked a Year on Year rise of 23% when compared to EGP 209.835 million in Q1 2020.

Standalone net profit reached EGP 100.202 million in Q1 2021, a 5% increase from EGP 95.195 million posted in the prior-year period.

Edita will inaugurate a factory by the end of 2021 in Morocco, Edita’s Chairman Hany Barzi said.

Edita operates 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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