Arab Finance: Edita Food Industries (EFID) intends to expand in new regional markets through exports or other investments, the company’s Chairman Hani Berzi told Asharq Business.

Berzi commented on the USD-EGP exchange rate, stating that the volatile movement does not affect the cost of raw materials, which is normal during the end-of-year period.

The US dollar increase rate by a range between 2% and 4% has no impact on food industries, particularly since the current fluctuation in the exchange rate is acceptable and not surprising.

Edita also plans to boost its foreign currency resources due to its reliance on USD financing.

The company has exceeded 11%-12% of its business volume in exports, Berzi highlighted.

In the first nine months of 2024, Edita logged consolidated profit excluding minority interest amounted to EGP 1.266 billion.

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