{"id":546422,"date":"2022-05-16T04:00:48","date_gmt":"2022-05-16T04:00:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/earnings-edita-abk-egypt\/"},"modified":"2022-05-16T04:00:48","modified_gmt":"2022-05-16T04:00:48","slug":"earnings-edita-abk-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/earnings-edita-abk-egypt\/","title":{"rendered":"Earnings: Edita, ABK Egypt"},"content":{"rendered":"<p><strong>Edita Food Industries\u2019 net income rose 86% y-o-y in 1Q 2022 to EGP 148.1 mn<\/strong>, according to the company\u2019s <a href=\"https:\/\/ent.news\/2022\/5\/Edita-1Q2022-ER-E-FINAL.pdf\">latest earnings release (pdf)<\/a>. The company said that bottom line growth \u201creflected improved performance down the income statement\u201d, with revenues jumping 34% y-o-y to EGP 1.56 bn, backed by strong performance by all six segments.<\/p>\n<p><strong>Driving revenue growth:<\/strong> The company's cake and bakery segments were the biggest contributors, accounting for almost 75% of the company\u2019s revenue for the quarter. Wafer revenues, which accounted for 16% of the company\u2019s top line, grew 61% y-o-y. Meanwhile, revenues from the biscuits segment grew 62% on 1Q 2021.<\/p>\n<p><strong>The snack foods\u2019 maker\u2019s new <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f5021b9f-77d7-4bec-b370-92a0cd7e0f83\">facility in Morocco<\/a><\/strong><strong> began generating revenues in 1Q<\/strong>, bringing in EGP 20.5 mn during the quarter, the statement said.<\/p>\n<p><strong>IN OTHER EARNINGS-<\/strong><\/p>\n<p><strong>Al Ahli Bank Kuwait Egypt reported net income of<\/strong><strong> EGP 551 mn in 1Q 2022<\/strong>, according to <a href=\"https:\/\/ent.news\/2022\/5\/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D8%A7%D9%94%D9%87%D9%84%D9%8A-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA%D9%8A-%E2%80%93-%D9%85%D8%B5%D8%B1-%D9%8A%D8%AD%D9%82%D9%82-551-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AC%D9%86%D9%8A%D9%87-%D8%B5%D8%A7%D9%81%D9%8A-%D8%A7%D9%94%D8%B1%D8%A8%D8%A7%D8%AD-%D8%AE%D9%84%D8%A7%D9%84-%D8%A7%D9%84%D8%B1%D8%A8%D8%B9-%D8%A7%D9%84%D8%A7%D9%94%D9%88%D9%84-%D9%85%D9%86-2022.pdf\">a statement (pdf)<\/a>. The bank also reported a 23% rise in net interest income to EGP 603 mn in the first three months of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Edita Food Industries\u2019 net income rose 86% y-o-y in 1Q 2022 to EGP 148.1 mn, according to the company\u2019s latest earnings release (pdf). The company said that bottom line growth \u201creflected improved performance down the income statement\u201d, with revenues jumping 34% y-o-y to EGP 1.56 bn, backed by strong performance by all six segments. Driving [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":546423,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7208],"tags":[302,409,191,72,900,806],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings","tag-earnings-watch","tag-edita","tag-enterpriseam","tag-food-and-beverage","tag-nbk-egypt","wpautop","entry"],"acf":{"mongo_id":"8d3eb8bc-1d3d-4df6-b974-f3a3cbcb6ddd","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/5\/195.jpg","photo_position":"above","related_issue":[546406],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Earnings: Edita, ABK Egypt - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/earnings-edita-abk-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings: Edita, ABK Egypt\" \/>\n<meta property=\"og:description\" content=\"Edita Food Industries\u2019 net income rose 86% y-o-y in 1Q 2022 to EGP 148.1 mn, according to the company\u2019s latest earnings release (pdf). The company said that bottom line growth \u201creflected improved performance down the income statement\u201d, with revenues jumping 34% y-o-y to EGP 1.56 bn, backed by strong performance by all six segments. 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The bottom line growth was supported by a 31% increase in revenues, which rose to EGP 5.25 bn on the back of better pricing and sales volumes, the company\u2026","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":587799,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/01\/palm-hills-revenues-up-22-in-1q-2023\/","url_meta":{"origin":546422,"position":4},"title":"Palm Hills\u2019 revenues up 22% in 1Q 2023","author":"enterpriseam admin","date":"1 June 2023","format":false,"excerpt":"Net income was down 14% on higher financing costs","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1759.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597953,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/09\/earnings-watch-edita-mnhd-report-1q2019-results\/","url_meta":{"origin":546422,"position":5},"title":"Earnings watch: Edita, MNHD report 1Q2019 results","author":"enterpriseam admin","date":"9 May 2019","format":false,"excerpt":"EARNINGS WATCH- Edita net profit increases 87.8% y-o-y in 1Q2019: High-profile snack food maker Edita recorded an 87.8% y-o-y increase in net profit for 1Q2019 to EGP 114.3 mn, according to the company\u2019s earnings release (pdf). Revenues from the quarter reached EGP 982.2 mn, up 10.8% y-o-y, while net profit\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546422"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546422\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546406"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546423"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546422"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546422"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}