EARNINGS WATCH- Edita net profit increases 26.3% y-o-y in 2Q2019:<\/b> Snack food maker Edita recorded a 26.3% y-o-y increase in net profit for 2Q2019 to EGP 31.7 mn, according to the company\u2019s earnings release (pdf). Revenues from the quarter reached EGP 862.8 mn, up 9.3% y-o-y. Commenting on the results, Chairman Hani Berzi said, \u201cEdita\u2019s growth in the second quarter and first half of 2019 continued to be a factor of our constantly improving product mix, with new product launches and strategic market segmentation allowing the company to expand its consumer base and capture higher value from sales.\u201d<\/p>\n
Cakes continued to be the largest share of total revenues in 2Q2019 at 45%<\/b>, followed by croissants, which made up 32.1%. Rusks grew to 9.7% versus 7.4% in 2Q2018, while Edita\u2019s wafer segment accounted for 8.8% of total revenues for the quarter. Gross exports were up 17.3% y-o-y to EGP 150.2 mn in 1H2019, comprising an 8.1% share of total gross revenues during the first half of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"
EARNINGS WATCH- Edita net profit increases 26.3% y-o-y in 2Q2019: Snack food maker Edita recorded a 26.3% y-o-y increase in net profit for 2Q2019 to EGP 31.7 mn, according to the company\u2019s earnings release (pdf). Revenues from the quarter reached EGP 862.8 mn, up 9.3% y-o-y. Commenting on the results, Chairman Hani Berzi said, \u201cEdita\u2019s […]<\/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":[8572],"tags":[302,191,72,564,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597593","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-earnings","tag-edita","tag-enterpriseam","tag-food","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"e3323c5d-340b-4a91-a17e-a1f8cca37746","is_powered_by":true,"section_story_id":"051ee201-d892-42fd-a518-452bb74a2a4e","story_type":"1","photo_url":"","photo_position":"above","related_issue":[597577],"teaser":"","voice_url":""},"yoast_head":"\n