Egypt’s Edita to inject EGP 1 bln investments in 2024

Egypt’s Edita Food Industries plans to inject investments amounting to one billion Egyptian pounds in the country by 2024, Hani Barzi said on Wednesday. This is a significant increase from this year’s investment of 400 million pounds.

The company experienced a remarkable 61 percent year-on-year surge in net profits, hitting 460.1 million pounds in Q3 2023.

The primary driver of this growth was a substantial rise in revenues.

Revenues skyrocketed by 54.6 percent, totaling 3.1 billion pounds, in the quarter that concluded on September 30.

The significant increase is a result of the company’s strong performance across all sectors and enhanced selling prices.

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