Edita raises Todo prices by EGP0.5/pack effective this week
Edita Food Industries (EFID.CA) announced that it has increased prices for most of its Todo brand SKUs by EGP0.50/pack effective this week, as part of the company's price-point migration strategy, on the back of the current inflationary environment in Egypt. Todo, which accounted for 15% of Edita's 9M16 top-line (30% of cake segment), will now be sold at EGP1.50/pack from EGP1.00/pack. Earlier in October, the company had increased Molto prices by 25%-50% as part of its wide portfolio optimisation strategy. (Company disclosure) Edita Food Industries: EGP13.51 as of 20 November 2016, Rating: Neutral, FV: EGP11.80 per share, MCap: USD566mn, EFID EY / EFID.CA
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