Egypt: Edita’s consolidated net profit hikes 116.3% YoY in H1

Egypt: Edita’s consolidated net profit hikes 116.3% YoY in H1

Edita Food Industries (EFID) reported an 116.3% year-on-year (YoY) hike in consolidated net profit attributable to the parent company for the first half (H1) of 2023, according to the financial statements filed to the Egyptian Exchange (EGX) on August 15th.

Consolidated net profit attributable to the parent company reached EGP 812.243 million in H1 2023, compared to a profit of EGP 375.524 million in the year-ago period.

Moreover, the company generated consolidated sales of EGP 5.637 billion in the six-month period ended June 30th, up from EGP 3.132 billion in the same period last year.

At the level of standalone financial statement, Edita logged a standalone net profit of EGP 648.930 million in H1 2023, compared to a profit of EGP 326.246 million in H1 2022.

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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