Edita’s consolidated profit balloons 89.3% YoY in 9 months
Updated 11/6/2023 7:43:00 AM
Arab Finance: Edita Food Industries (EFID) recorded an 89.26% year-on-year (YoY) surge in consolidated profit attributable to the parent company during the first nine months of 2023, according to the firm’s financial statements issued on November 5th.
The company’s consolidated profit excluding minority interest surged to EGP 1.278 billion in the nine months to September 30th from EGP 675.279 million in the same period a year earlier.
Revenues soared to EGP 8.753 billion in January-September from EGP 5.147 billion in the nine-month period of 2022.
Furthermore, the standalone net profit after tax jumped to EGP 1.052 billion in the period from January 1st to September 30th from EGP 575.206 million in the same period last year.
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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