Cairo – Mubasher: Edita Food Industries plans to inject investment valued at nearly EGP 800 million in 2023, according to a bourse filing.

Edita also intends to increase the capital of its fully-owned subsidiary Fancy Foods Company to EGP 400 million.

In the first quarter (Q1) of 2023, the EGX-listed firm logged consolidated net profits after tax valued at EGP 399.92 million, higher by 146.20% than EGP 162.42 million in Q1-22, including minority interest.

The sales amounted to EGP 2.77 billion in the January-March 2023 period, marking a 78.30% year-on-year (YoY) leap from EGP 1.55 billion.

As for the standalone business, the net profits after tax hiked to EGP 327.17 million in Q1-23 from EGP 169.72 million in Q1-22, while the revenues enlarged to EGP 2.24 billion from EGP 1.29 billion.