Cairo – Mubasher: Beltone financials has maintained the fair value of Edita Food Industries at EGP 19.31 per share, with a recommendation of ‘Buy’, according to a recent statement.
Beltone clarified that Edita achieved strong financials’ performance except for the exchange rate losses, with revenues growing 27.1% to EGP 821.7 million in the fourth quarter of 2016 when compared to the same period of 2015.
Beltone recommended raising investment positions, with expectations for a possible merger and acquisition opportunity.
The statement added that Edita announced its interest in expansion across the region, through signing further agreements.
