Cairo – Mubasher: Edita Food Industries said Wednesday that its consolidated profits for the fourth quarter of fiscal year 2016 dropped 78.7% to EGP 29.15 million from EGP 137 million for Q4-15.

Consolidated profits for fiscal year 2016 declined 54.65% to EGP 168.17 million from EGP 370.90 million for FY15, according to a bourse filing.

Standalone profits for 2016 fell 26.93% to EGP 194.30 million from EGP 265.92 million for FY15.

Revenues amounted to EGP 2.2 billion in 2016, rising 13.6% year-on-year.

The company’s board proposed distributing cash dividends of EGP 0.15 per share for the year which ended on 31 December 2016, totalling EGP 108.69 million, according to another statement.