A Molto good start to the year for Edita: Snackmaker Edita Food Industries — the firm behind kiosk favorites Todo Bomb, Molto and Twinkies — saw its bottom line surge to EGP 436.4 mn in 1Q 2024 marking a 16.2% y-o-y increase on the back of strong sales across all segments, the company said in an earnings release (pdf) and its accompanying press release (pdf). Edita’s revenues rose 41.3% y-o-y to EGP 3.9 bn in the same period.

Selling like hot cakes: Half of the quarter’s revenues came from cake sales, which were up 33.1% y-o-y to record EGP 2 bn. Growth was echoed across Edita’s smaller segments with bakery sales up 37.8% y-o-y to EGP 1.1 bn, wafers up 70.3% y-o-y to EGP 492.9 mn, and rusks were up 18.5% y-o-y to EGP 165.4 mn.

Price hikes, product range cushioned increasing costs: “Edita continued to adapt and optimize its portfolio in response to the challenges posed by inflationary pressures and currency devaluations by focusing on diversifying its product range and size, while expanding its price spectrum,” the company said.

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