Cairo – Mubasher: Edita Food Industries on Tuesday reported a 45% year-on-year surge in consolidated profits for the first quarter of 2018, recording a net profit of EGP 69.43 million from EGP 47.8 million.
Sales climbed to EGP 886.07 million in the three-month period ended last March, versus EGP 642.4 million in Q1-17, the Cairo-based confectioner said in a filing to the Egyptian Exchange (EGX).
Meanwhile, standalone losses doubled to EGP 44.38 million in Q1-18, up from EGP 22.29 million in the prior-year period, the producer of Twinkies in Egypt noted.
The board of Edita had proposed distributing cash dividends to shareholders of EGP 85 million for 2017.
Edita’s capital amounts to EGP 145.07 million distributed over 725.36 million shares at a par value of EGP 0.20 per share.
