FINANCIAL NEWS

Egypt’s Edita eyes USD327m sales in 2015

03 Apr 2015

(MENAFN) Egypt’s Edita eyes USD327.65 million worth of sales in 2015, according to an interview with the food-maker’s chief executive officer, Reuters reported.

The food industry is described as the most prolific in the 90-million-populated country. Edita, founded in 1996, lately inaugurated a private institutional submission of shares.

Edita makes an assortment of snacks and cakes and presently is eying to purchase land in October 6 city near Cairo in April in order to build a fifth factory.

“We are seeking sales of more than 2.5 billion pounds,” the chief executive officer said in a statement, adding to his hopes of sustaining EBITDA earnings of 24 percent in 2015.

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