Biography Of Hani Berzi (Age , Net Worth , Wife) – Despite an increasingly challenging operating environment, Edita Food Industries, an Egypt-based consumer goods conglomerate led by multimillionaire businessman Hani Berzi, delivered a record-breaking financial performance at the end of the first nine months of its 2022 fiscal year, with profits exceeding $25 million.
The group’s profit increased by more than 127.2 percent in the first nine months of 2022, from EGP277.4 million ($11.3 million) in the previous period to EGP630.2 million ($25.7 million), owing to a double-digit increase in total packaged food items sold, with cakes accounting for the majority of the volume growth.
The group’s revenue increased by 38.7 percent during the review period, from EGP3.71 billion ($151 million) to EGP5.14 billion ($209 million), owing to higher volumes and pricing advantages, as the average price per tonne increased by 42.5 percent due to direct and indirect price increases.
Edita executed two rounds of direct price increases and product reconfiguration to mitigate the consequences of global inflationary pressures and rising commodity prices while still protecting profitability.
The first phase of direct price increases and product reconfiguration happened in the fourth quarter of 2021, with the second round impacting the bread and wafer divisions beginning in the second quarter of 2022.
Edita Food Industries is a market leader in Egypt’s growing packaged snack food sector. Through its wide retail channel, the firm makes and distributes a range of branded snack foods, including packaged cakes, croissants, rusks (baked wheat), and wafers.
Berzi, an Egyptian multimillionaire businessman who formed Edita Foods Industries in 1996 and currently serves as chairman and managing director, has a significant 41.95 percent stake in the top packaged food manufacturer through Quantum Invest BV.