Cairo – Mubasher: Edita Food Industries on Tuesday reported a 44.5% year-on-year increase in consolidated profits for 2017 due to a growth in sales.
Net profit stood at EGP 243 million last year, up from EGP 168.7 million a year earlier, the company said in a filing to the Egyptian Exchange (EGX).
Sales rose to EGP 3 billion in 2017, versus sales of EGP 2.5 billion in 2016.
Standalone profits retreated to EGP 131.3 million in 2017 from EGP 194.3 million.
Given that Edita last posted a 43% year-on-year rise in profits for the third quarter of 2017 to reach EGP 74.11 million, versus EGP 51.75 million in Q3-16.
