{"id":620435,"date":"2024-05-21T00:00:00","date_gmt":"2024-05-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/snackmaker-edita-saw-its-bottom-line-rise-16-in-1q-2024\/"},"modified":"2024-05-21T00:00:00","modified_gmt":"2024-05-21T00:00:00","slug":"snackmaker-edita-saw-its-bottom-line-rise-16-in-1q-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/snackmaker-edita-saw-its-bottom-line-rise-16-in-1q-2024\/","title":{"rendered":"Snackmaker Edita saw its bottom line rise 16% in 1Q 2024"},"content":{"rendered":"

A Molto good start to the year for Edita: <\/strong>Snackmaker Edita Food Industries \u2014 the firm behind kiosk favorites Todo Bomb, Molto and Twinkies \u2014 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)<\/a> and its accompanying press release (pdf)<\/a>. Edita\u2019s revenues rose 41.3% y-o-y to EGP 3.9 bn in the same period.<\/p>\n

Selling like hot cakes: <\/strong>Half of the quarter\u2019s revenues came from cake sales, which were up 33.1% y-o-y to record EGP 2 bn. Growth was echoed across Edita\u2019s 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.<\/p>\n

Price hikes, product range cushioned increasing costs: <\/strong>\u201cEdita 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,\u201d the company said. <\/p>\n","protected":false},"excerpt":{"rendered":"

Growth was recorded across all segments, with cake sales making up half of the quarter\u2019s revenues<\/p>\n","protected":false},"author":1,"featured_media":620436,"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":[409,191,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-620435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-edita","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"d5e2affc-f8ba-416b-8407-f3b4c2291712","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/1602.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian snackmaker Edita saw its bottom line rise 16% in 1Q 2024","related_issue":[620424],"teaser":"Growth was recorded across all segments, with cake sales making up half of the quarter\u2019s revenues","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.2c71bd13-4c00-4cc7-898c-4a5dae6f9697.mp3"},"yoast_head":"\nSnackmaker Edita saw its bottom line rise 16% in 1Q 2024 - 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\/2024\/05\/21\/snackmaker-edita-saw-its-bottom-line-rise-16-in-1q-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Snackmaker Edita saw its bottom line rise 16% in 1Q 2024\" \/>\n<meta property=\"og:description\" content=\"Growth was recorded across all segments, with cake sales making up 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