Cairo – Mubasher: Edita Food Industries announced a price increase for its Molto products, according to a bourse disclosure on Monday. 

The prices of Molto products priced at EGP 2 per pack will be increased to EGP 3, while those priced at EGP 3 per pack will be increased to EGP 4. 

In the meantime, the prices of Molto products priced at EGP 5 per pack will remain unchanged.

The price increases will help the company enhance its profitability amid the global inflationary pressures and higher commodity prices.

This move follows Edita's announcement to acquire a new bakery production line which is scheduled to be operational by the end of the first quarter (Q1) of 2022. The new line is projected to boost the bakery production capacity by 20%. 

In the first half (H1) of 2021, Edita logged net profits of EGP 196.91 million, compared to EGP 93.78 million in H1-20, including minority shareholders' rights.