Egypt’s food provider Edita H1 profits rise 122.1%

Egypt’s largest snack food producer Edita reported Tuesday a 122.1 percent increase in first-half net profits, recording 85.9 million pounds.

Edita Food Industries’ revenues rose 33.6 percent to 1.68 billion pounds at the end of June, Edita added in a statement.

During the second quarter of the year, net profits amounted to 25.1 million pounds up from 1.7 million during the same period in 2017.

Moreover, revenues jumped 29 percent to 789.2 million pounds during the three months ended in June 2018.

Edita earlier posted a 45 percent surge in first-quarter consolidated profits, registering 69.43 million pounds from 47.8 million pounds.