Foodico’s net profit soars 754.7% YoY in Q1
Updated 5/25/2022 2:20:00 PM
Arab Finance: Ismailia National Food Industries (Foodico) (INFI) reported a 754.7% year-on-year (YoY) surge in net profit for the first quarter (Q1) of 2022, according to the company’s financial results filed to the Egyptian Exchange (EGX) on May 25th.
The company recorded a net profit after tax of EGP 5.67 million in Q1 2022, compared to EGP 663,872 in Q1 2021.
Moreover, Foodico generated net sales of EGP 23.16 million in the first three months of 2022, up from EGP 14.36 million in the corresponding period last year.
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.
