Edita’s consolidated profits surge 59% YoY in 2023
Updated 3/4/2024 8:18:00 AM
Arab Finance: Edita Food Industries (EFID) recorded a 59.1% year-on-year (YoY) surge in consolidated profits attributable to the parent company in 2023 to EGP 1.632 billion, versus EGP 1.026 billion, as per the company's financial statments.
Revenues soared to EGP 12.126 billion last year from EGP 7.671 billion in the year before.
As for standalone business, net profits after tax recorded EGP 1.38 billion in 2023, up from EGP 875.997 million in 2023.
Meanwhile, standalone revenues went up to EGP 9.813 billion from EGP 6.257 billion.
Founded in 1996, Edita is an Egypt-based leader in the packaged snack food market that operates within the manufacturing, marketing, and distribution of 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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