Cairo – Mubasher: Edita Food Industries reported a 21.5% year-on-year profit increase during 2019, the company’s consolidated financial statements showed.
The food producer’s net profits surged to EGP 409.46 million last year from EGP 336.89 million in 2018, including minority shareholders’ rights, according to a statement to the Egyptian Exchange (EGX) on Thursday.
Meanwhile, the company’s sales rose to EGP 4.025 billion in 2019, compared to EGP 3.77 billion in the previous year.
As for standalone financials, the Egyptian firm reported net profits of EGP 440.34 million last year, up from EGP 328.8 million a year earlier.
In addition, the company’s board of directors recommended a cash dividend distribution of EGP 0.20 per share, totalling EGP 145.07 million
It is noteworthy that during the first nine months of 2019, Edita logged EGP 285.2 million in net profits, up from EGP 200.4 million in the corresponding period a year earlier, including minority shareholders’ rights.
