Egypt: Foodico’s net profit soars 145.96% YoY in H1
- Date: 10-Aug-2023
- Source: Zawya
- Sector:Agriculture
- Country:Egypt
Egypt: Foodico’s net profit soars 145.96% YoY in H1
Ismailia National Food Industries (Foodico) reported a 145.96% year-on-year (YoY) surge in net profit for the first half (H1) of 2023, according to the company’s financial results filed to the Egyptian Exchange (EGX) on August 10th.
The company recorded a net profit after tax of EGP 14.463 million in H1 2023, compared to EGP 5.880 million in H1 2022.
Moreover, Foodico generated net sales of EGP 71.397 million in the first six months of 2023, up from EGP 47.615 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.
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