Edita Food Industries delivered a strong 24.1% increase in 2018’s revenues to EGP 3.8 bn, in comparison with 2017, as volumes continue to grow along with improved profitability, a statement of the company said, adding that the net profit for 2018 was up by 43.3% to reach EGP 303.7m.
“Edita’s strong performance for the year was driven by our strategy to capture growing demand with a tailored product mix suited for today’s market dynamics. The results are clear with volumes fast recovering to levels seen only before the devaluation of the Egyptian pound,” Edita’s Chairperson and Managing Director, Hani Berzi said.
Yet, the higher price points with a better product mix are now delivering both growth and improved profitability, he added, noting, “We were also particularly successful in extracting higher value, while simultaneously defending our market share in an increasingly competitive environment, thanks to Edita’s strong brand equity, innovative approach, and unique product offerings.”
The key pillars of Edita’s strategy during the year included a focus on growing volumes by enhancing its product portfolio, including reconfigurations and new launches, as well as leveraging its extensive distribution network in order to achieve better market segmentation.
In parallel, the management also focused on cost minimisation and operational efficiency initiatives, the statement mentioned.