{"id":562208,"date":"2021-05-11T03:45:54","date_gmt":"2021-05-11T03:45:54","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/11\/edita-net-income-grows-by-a-quarter-in-1q2021\/"},"modified":"2021-05-11T03:45:54","modified_gmt":"2021-05-11T03:45:54","slug":"edita-net-income-grows-by-a-quarter-in-1q2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/11\/edita-net-income-grows-by-a-quarter-in-1q2021\/","title":{"rendered":"Edita net income grows by a quarter in 1Q2021"},"content":{"rendered":"

Edita\u2019s net income grew 25.3% y-o-y in 1Q2021 to EGP 80.7 mn<\/strong> on the back of recovering consumption \u201ccoupled with rising demand for Edita\u2019s products,\u201d as well as a bump in product prices, the company said in an earnings release (pdf)<\/a>. The snackfood maker also saw its top line growing 21% y-o-y to EGP 1.1 bn, driven by increased revenues from its cakes, wafers, and bakery segments. Though the rise in commodity prices threatens to impact Edita\u2019s cost base, the 26.6% increase in the cost of direct materials in 1Q2021 was \u201clargely offset by savings on manufacturing overheads on the back of cost cutting initiatives and higher utilization rates throughout the quarter.\u201d<\/p>\n

Looking ahead, Edita plans to launch new products across its segments<\/strong> as it works to \u201cshift consumers increasingly toward higher price-points.\u201d The company will also look to double down on growing its share of the biscuits market, which it recently entered with the launch of its Oniro<\/a> range of cookies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Edita\u2019s net income grew 25.3% y-o-y in 1Q2021 to EGP 80.7 mn on the back of recovering consumption \u201ccoupled with rising demand for Edita\u2019s products,\u201d as well as a bump in product prices, the company said in an earnings release (pdf). The snackfood maker also saw its top line growing 21% y-o-y to EGP 1.1 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562208","post","type-post","status-publish","format-standard","hentry","category-earnings-watch","tag-earnings","tag-earnings-watch","tag-edita","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"70dbb706-d876-4bed-beb8-40b6a9c27827","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[562197],"teaser":"","voice_url":""},"yoast_head":"\nEdita net income grows by a quarter in 1Q2021 - 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\/2021\/05\/11\/edita-net-income-grows-by-a-quarter-in-1q2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Edita net income grows by a quarter in 1Q2021\" \/>\n<meta property=\"og:description\" content=\"Edita\u2019s net income grew 25.3% y-o-y in 1Q2021 to EGP 80.7 mn on the back of recovering consumption \u201ccoupled with rising demand for Edita\u2019s products,\u201d as well as a bump in product prices, the company said in an earnings release (pdf). 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The EGX- and LSE-listed snackfood manufacturer saw its net income in 4Q2020 grow 16% y-o-y, \u201csupported by\u2026","rel":"","context":"In "EARNINGS WATCH"","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":627391,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/31\/earnings-watch-edita-reports-2q2018-results\/","url_meta":{"origin":562208,"position":2},"title":"Earnings Watch: Edita reports 2Q2018 results","author":"enterpriseam admin","date":"31 July 2018","format":false,"excerpt":"\u00a0EARNINGS WATCH-\u00a0Edita Food Industries recorded a net profit of EGP 25.1 mn in 2Q2018, up from a net loss of EGP 1.7 mn during the same period last year, according to the company\u2019s earnings release (pdf). 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Revenues for the quarter reached EGP 1.09 bn, up 7% y-o-y. Commenting on the results,\u2026","rel":"","context":"In "Speed Round"","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":[]},{"id":645814,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/31\/earnings-watch-edita-credit-agricole-egypt\/","url_meta":{"origin":562208,"position":5},"title":"Earnings Watch: Edita, Credit Agricole Egypt","author":"enterpriseam admin","date":"31 July 2017","format":false,"excerpt":"EARNINGS WATCH- Edita reported a net loss of EGP 1.7 mn in 2Q2017 down from a net profit of EGP 41.6 mn in the similar period last year. Despite the bottom line loss, Edita\u2019s revenues continued to grow, recording an 11.2% y-o-y increase to EGP 611.6 mn. 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