The Clap
Edita (EFID) recorded a 57% YoY increase in net income during in Q1-2022, recording profits of EGP 162 million.
The deets
The increase in profits was accompanied by an increase in the company’s revenues, which reached EGP 1.559 billion in Q1-2022. The company attributed its revenue’s growth to an increase in demand & prices of goods.
The company’s biscuit segment performed exceptionally well, as its revenues grew by 62% YoY.
The company announced that its business in Morocco, named “Edita Morocco”, also started to make revenue through its first quarter, achieving EGP 20 million.
In related news
Edita annouced the establishment of a holding company with paid-in capital EGP 5 million, & a microfinance company with paid-in capital of EGP 15 million.
For Edita’s earnings report, click here.
