Edita’s net income grew 25.3% y-o-y in 1Q2021 to EGP 80.7 mn on the back of recovering consumption “coupled with rising demand for Edita’s products,” 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 bn, driven by increased revenues from its cakes, wafers, and bakery segments. Though the rise in commodity prices threatens to impact Edita’s cost base, the 26.6% increase in the cost of direct materials in 1Q2021 was “largely offset by savings on manufacturing overheads on the back of cost cutting initiatives and higher utilization rates throughout the quarter.”

Looking ahead, Edita plans to launch new products across its segments as it works to “shift consumers increasingly toward higher price-points.” 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 range of cookies.