Cairo – Mubasher: Edita Food Industries is targeting additional investments valued at around MAD 170 million in Morocco.
Edita Morocco inked a cooperation agreement with the Moroccan Ministry of Industry and Trade to expand its investments in the Kingdom, according to a bourse disclosure on Monday.
Moreover, the board of Edita Morocco agreed to increase the company’s capital to MAD 100 million and purchase a new production line for cake manufacturing from Edita Egypt.
Last December, Edita commenced its factory operations in Morocco at investments totalling EGP 200 million.
In 2021, the snack foods giant recorded consolidated net profits worth EGP 528.87 million, a 52% year-on-year (YoY) jump from EGP 347.69 million.
