Cairo – Mubasher: Edita Food Industries is targeting investment flows worth nearly EGP 1 billion to increase its production capacity in 2024.
The export revenues of the EGX-listed firm exceeded EGP 1 billion in 2023, according to a bourse filing.
In the first nine months (9M) of 2023, Edita recorded year-on-year (YoY) higher consolidated net profits after tax at EGP 1.26 billion, compared to EGP 673.77 million.
As for the standalone business, the company’s net profits hiked to EGP 1.05 billion in 9M-23 from EGP 575.20 million in the January- September 2022 period.
Last November, the shareholders of Edita agreed to lower the capital to EGP 140 million from EGP 144.61 million by cancelling 23.04 million treasure shares at a par value of EGP 0.20.
