Cairo - Mubasher: Ismailia National Food Industries (Foodico) reported a rise in profits by 83.75% year-on-year in the first quarter of 2017, as shown by the company’s financial statements.

Profits totalled EGP 2.94 million in Q1-17 compared to EGP 1.6 million in Q1-16, according to the company’s statement to the Egyptian Exchange (EGX) on Sunday.

Sales amounted to EGP 23.79 million in the three-month period that ended on 31 March up from EGP 20.75 million in the same period in 2016.