Cairo – Mubasher: Edita Food Industries on Wednesday reported a 38.6% year-on-year increase in consolidated profit during the full-year 2018 on the back of rising sales.

The Cairo-based confectioner’s profits rose to EGP 336.8 million last year, against EGP 243.04 million in 2017, including minority shareholders’ rights, the company said in a filing to the Egyptian Exchange (EGX).

The company’s sales increased to EGP 3.7 billion in 2018, versus EGP 3.04 billion in the prior year.

In addition, the EGX-listed company logged EGP 328.8 million in standalone profits last year, compared to EGP 131.3 million in 2017.

During the January-September period of 2018, the company’s profits rose to EGP 200.4 million, from EGP 129 million in the year-ago period.

Sales also increased to EGP 2.6 billion in the nine-month period ended last September, from EGP 2.08 billion in the corresponding period of 2017.