Cairo – Mubasher: Edita Food Industries has posted an 87.8% year-on-year surge in profits for the first quarter of 2019.

The Cairo-based food company has logged a net profit of EGP 114.3 million during the three-month period ended 31 March, according to a statement.

Revenue amounted to EGP 982.2 million in Q1-19, rising 10.8% from revenue generated in the same quarter of 2018, Edita noted.

Meanwhile, the company’s exports stood at EGP 85.7 million in Q1-19, growing 33.8% year-on-year.

In 2018, Edita reported an EGP 336.8 million in net profits, up 38.6% from EGP 243.04 million in 2017, including minority shareholders’ rights.