Edita begins international arbitration proceedings regarding the dispute with Cipita

Cairo – Mubasher: Edita Food Industries announced the start of the arbitration procedures at the Cairo Regional Center for International Commercial Arbitration regarding the dispute between it and the Shebita Group.

The company said in a statement to the Egyptian Stock Exchange today, Tuesday, that this is in terms of terminating the contract for manufacturing and technical services concluded between them on April 29, 2011 and amending it on May 15, 2013.

Edita achieved profits amounting to 93.78 million pounds during the first half of 2020 during the six months ending last June, compared to 167.8 million pounds in the comparative period last year.

The company’s sales declined during the period to 1.73 billion pounds, compared to 1.84 billion pounds in the comparative period of 2019.

At the level of independent businesses, the company’s profits fell to 129.66 million pounds, compared to 150.6 million pounds in the first half of 2019.

Nominations:

Edita profits down 44% in the first half of 2020

A subsidiary of “Edita” borrows $ 8.2 million from the Arab Bank

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