Foodico eyes lower profit in 2021
Updated 12/27/2020 6:33:00 PM
ArabFinance: Ismailia National Food Industries (Foodico) announced the budget for 2021, targeting a net profit of EGP 220,000, according to the company’s December 27th statement filed to the Egyptian Exchange.
In 2020, the company targeted posting a net profit of EGP 11,757,000.
Foodico has expected to achieve sales of EGP 47.950 million in 2021, compared to EGP 48 million in 2020.
In is worth mentioning that the company posted a net profit of EGP 13,723,225 in the first nine months of 2020.
Kamar Holding for Financial Investments increased in October its stake in Foodico from 1.10% to 9.98%.
Foodico is an Egypt-based public shareholding company engaged in the food industry. The company exports its products to UAE, Europe, US, Canada, and Australia.
