Cairo – Mubasher: Edita Food Industries posted a 63.4% year-on-year profit growth during the first half of 2019.
Net profits surged to EGP 167.8 million in the six-month period ended 30 June, compared to EGP 102.7 million in the year-ago period, including minority shareholders’ rights, according to a statement to the Egyptian Exchange (EGX) on Wednesday.
Meanwhile, sales rose to EGP 1.84 billion in H1-19 from EGP 1.67 billion in H1-18.
As for standalone business, the company’s net profits totalled EGP 150.6 million from January to June, compared to EGP 68.38 million in the corresponding period a year earlier.
During the second quarter of 2019, the food company’s net profits grew by 26.3% to EGP 31.7 million, the company said in a statement on Tuesday.
Meanwhile, revenues rose by 9.3% year-on-year to EGP 862.8 million in Q2-19.
During the first half of 2019, export sales increased by 17.3% year-on-year to EGP 150.2 million.
In Q1-19, the Cairo-based food company’s profits soared by 87.8% on an annual basis to EGP 114.3 million.
