• Wednesday, 1 March 2023

    It was a record year for snack food giant Edita

    Snack food maker Edita Food Industries reported record net income and revenues in 2022 on the back of stronger sales and higher prices, according to its earnings release (pdf). The company’s net income more than doubled during the year to...
  • Tuesday, 28 February 2023

    Edita plans to acquire 100% of a mystery company

    Edita wants 100% of an unnamed local food firm: The board of EGX-listed Edita Food Industries has agreed to submit an offer to acquire 100% of an unnamed, unlisted company in the local food industry, it said in a bourse...
  • Tuesday, 31 January 2023

    Three in, three out as EGX30 rebalances

    The EGX30’s semiannual rebalancing is done, the EGX said in a statement out yesterday.In: Abu Dhabi Islamic Bank Egypt, snack food maker Edita, and Taaleem Management Services have all been added.Out: Alexandria Containers and Cargo Handling, Housing and Development Bank,...
  • Tuesday, 15 November 2022

    Edita, GB Auto, e-Finance, ODE and EKH report 3Q 2022 earnings

    Bold-name companies were in with buzzer-beaters as 3Q earnings season winds down. Real estate players continued to post strong results, as have food, investment, automotive, consumer finance and payments players. Here’s the rundown:EDITA Edita Food Industries reported record net income...
  • Monday, 24 October 2022

    UAE investor snaps up 3% of Edita

    Emirati investment firm Rimco Investments acquired a 3.0% stake in Edita for EGP 192 mn in a transaction Thursday, Bloomberg Asharq reports, citing unnamed market participants. The Dubai-based company reportedly purchased 20 mn shares at EGP 9.60 per share. A...
  • Thursday, 20 October 2022

    Edita to buy back another 3.8% of shares over 3 months

    Edita’s board of directors has approved plans to buy back 3.8% of its shares as the company looks to support its share price, it said in disclosures to the EGX (pdf and pdf) yesterday. The company will repurchase 28 mn...
  • Wednesday, 14 September 2022

    Elsewedy Electric opens second phase of industrial complex in Tanzania

    Elsewedy Electric opens second phase of Tanzania industrial park: Elsewedy Electric opened a transformer factory in Tanzania yesterday, the company said in a statement (pdf) to the EGX, marking the second phase launch of its USD 50 mn Kigamboni industrial...
  • Tuesday, 16 August 2022

    Enough earnings for you?

    Yesterday was an earnings extravaganza, ladies and gentlemen. Among those reporting were (in alphabetical order): Contact Financial Holding’s net income dipped 4% y-o-y to EGP 104.4 mn in 2Q 2022 amid challenging economic conditions, according to the company’s financial statements...
  • Monday, 15 August 2022

    Edita’s new production line is online

    Edita Food Industries has started operations at its new EGP 135 mn production line, which is set to increase Edita’s production of baked goods by 20% (11 mn tons) a year, the company said in an EGX disclosure (pdf) yesterday....

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