Cairo – Mubasher: Edita Food Industries reported an 87.1% year-on-year surge in consolidated profit for the first half of 2018, recording a net profit of EGP 102.73 million from EGP 54.89 million.
Sales increased to EGP 1.67 billion in the six-month period ended June from EGP 1.25 billion in the year-ago period, the company said in a filing to the Egyptian Exchange (EGX).
At the level of standalone business, the company generated around EGP 68.38 million in net profit during H1-18, versus EGP 16.66 million in the corresponding period of 2017.
On Monday, Edita’s net profit amounted to EGP 25.1 million in the second quarter of 2018, against a net loss of EGP 1.7 million in Q1-17.
Moreover, revenues increased by 29% year-on-year to EGP 789.2 million in the three-month ended June.
Edita previously posted a 45% year-on-year surge in consolidated profits for Q1-18, recording a net profit of EGP 69.43 million from EGP 47.8 million.
