Edita posts 94% YoY growth in 2022 consolidated profits
Updated 3/1/2023 10:51:00 AM
Arab Finance: Edita Food Industries registered a 93.9% surge in consolidated net profits after minority interest for 2022, according to the company’s financial income statements filed to the Egyptian Exchange (EGX) on March 1st.
The leading food and beverage company recorded a net profit attributable to the parent company of EGP 1.025 billion last year, compared to EGP 528.739 million in 2021.
Moreover, the company generated sales of EGP 7.671 billion last year, remarkably up from EGP 5.251 billion in 2021.
Meanwhile, the company’s standalone net profit after tax grew to EGP 875.997 million in 2022 from EGP 426.444 million in the year before.
In the same vein, the board of directors of Edita approved the cash dividends payment proposal for 2022 earnings, under which shareholders shall be paid dividends of EGP 0.553 per share. This decision is pending the approval of the upcoming ordinary general meeting (OGM).
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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