Cairo – Mubasher: Edita Food Industries said Tuesday that its consolidated profits for the second quarter of 2016 decreased by 28% year-over-year to EGP 48 million ($5.39 million) from EGP 66.9 million ($7.5 million), according to a bourse filing.
Sales in the second quarter stood at EGP 550.2 million, higher 6.9% from EGP 514.8 million for the prior-year quarter.
According to the standalone results, net profit declined 35% year-on-year to EGP 28.25 million ($3.17 million) from EGP 43.78 million.
In the first three months, the company earned EGP 39.2 million ($4.4 million), compared with EGP 81.3 million ($9.1 million) for the year-ago quarter.
