Arab Finance: Ismailia National Food Industries (Foodico) reported a 317.99% year-on-year (YoY) surge in net profit in 2024, according to the company’s financial results filed to the Egyptian Exchange (EGX) on January 22nd.
The company recorded a net profit after tax of EGP 90.788 million in 2024, compared to EGP 21.719 million in 2023.
Moreover, Foodico generated net sales of EGP 317.530 million last year, up from EGP 157.300 million in 2023.
Foodico is an Egypt-based public shareholding company engaged in the food industry. The company exports its products to UAE, Europe, US, Canada, and Australia.