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Edita sees 26% higher consolidated profits in Q1-24

Edita sees 26% higher consolidated profits in Q1-24
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Edita
EFID
1.69% 29.50 0.49

Cairo – Mubasher: Edita Food Industries recorded consolidated net profits after tax worth EGP 502.79 million in the first quarter (Q1) of 2024, an annual jump of 25.70% from EGP 399.92 million.

The revenues amounted to EGP 3.92 billion in Q1-24, up 41.30% year-on-year (YoY) from EGP 2.77 billion, according to the consolidated financial results.

Basic and diluted earnings per share (EPS) increased to EGP 0.67 in Q1-24 from EGP 0.56 in Q1-23.

Total assets hit EGP 9.17 billion as of 31 March 2024, versus EGP 7.74 billion at the end of December 2023.

Standalone Results

The EGX-listed firm logged standalone net profits amounting to EGP 406 million in the first three months (3M) of 2024, up YoY from EGP 327.17 million in Q1-23.

Non-consolidated EPS climbed to EGP 0.54 in Q1-24 from EGP 0.46 in the year-ago period, while the revenues grew to EGP 3.14 billion from EGP 2.24 billion.

In 2023, Edita generated EGP 1.61 billion in consolidated net profit, higher than EGP 1.02 billion in 2022.