Obour Land sees 17.3% YoY increase in H1 consolidated profits
Updated 7/26/2023 10:30:00 AM
Arab Finance: Obour Land for Food Industries’ (OLFI) consolidated net profits attributable to the parent company rose 17.3% year on year (YoY) in the first half (H1) of 2023 to EGP 212.097 million, compared to EGP 180.848 million, according to the company’s financial statements.
The company’s consolidated sales hit EGP 2.956 billion in H1 2023, up from EGP 1.797 billion over the same half last year.
Standalone results showed a 17.4% YoY increase in net profits after tax to EGP 212.486 million in the period from January to June, versus EGP 180.979 million during the same period a year earlier.
Meanwhile, the firm garnered EGP 2.956 billion as standalone sales in H1 2023, up from EGP 1.797 billion in H1 2022.
Established in 1997, Obour Land for Food Industries is an Egypt-based manufacturing company, which is specialized in the production, processing, and packaging of white cheese.
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