Egypt - Edita Food Industries (EFID) announced the launch of its new brand, Oniro, marking the company's entrance into Egypt biscuits market capitalizing on the fast-growing Egyptian biscuits market with an estimated size of c. EGP 4.6 billion, according to the company's statement filed to the Egyptian Exchange.
The first product to hit the shelves under the Oniro flagship is the Oniro Cookie Crisp Filled, a vanilla chocolate chip cookie filled with chocolate cream. The Oniro Cookie Filled is the first locally produced chocolate chip cookie in Egypt. Furthermore, two larger SKUs in plain vanilla and chocolate are set for launch in the coming weeks. The new Oniro Cookie Crisp range is produced at Edita's E08 facility following the installation of the company's new biscuits line with a total investment cost of EGP 55 million.
In Quarter One (Q1) of 2020, the company reported consolidated net profit EGP 83.066 million, a 34% Year on Year from EGP 124.929 million achieved in the prior-year period.
Standalone net profit reached EGP 95.195 million in Q1, a 12% decrease from EGP 107.657 million posted in the corresponding period of 2019.
Edita is an Egypt-based company that operates in the packaged snack food market. The company manufactures, markets, and distributes a range of branded baked snack products, including packaged cakes, croissants, rusks (baked wheat snacks), and wafers, as well as selected confectionery and candy products.
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