Edita Egypt aims to inject LE 1B in investments within 3 years

CAIRO - 10 April 2022: Edita Food Industries plans to inject new investments worth LE 1 billion over the next three years.

 

The company said in a filing to the Egyptian Stock Exchange (EGX), Sunday, that these investments are aimed at expanding the company's operational operations.

 

Earlier, Edita Food Industries announced the official opening of the company's factory in Morocco, which started its actual operation last December.

 

Edita Food Industries - Morocco plans to increase its investments in Morocco by 170 million Moroccan dirhams (equivalent to $17.5 million), noting that it has signed a cooperation protocol with the Moroccan Ministry of Industry and Trade, according to the company’s statement.

 

It added that the board of directors of Edita Morocco agreed to increase the capital to 100 million dirhams and to purchase a new production line for the cake industry from Edita Egypt.

 

The Edita group owns about 76 percent of the Edita Food Industries Company - Morocco, while the share of the Dislog group is about 20 percent.

 

Edita Food Industries achieved profits of LE 528.87 million during 2021, compared to profits of LE 347.69 million in the previous year.

 

The share of the parent company’s shareholders in profits during 2021 amounted to about LE 528.73 million, compared to LE 347.72 million in 2020.

 

Edita operates within the Food, Beverage sector focusing on Packaged Foods and Meats.