ArabFinance: Al Ahly Pharos Securities Brokerage Research has maintained its ‘Equalweight’ recommendation for Obour Land for Food Industries’s (OLFI) stock, with a fair value (FV) of EGP 7.70 per share, according to a research note.

Obour Land for food Industries is expected to continue its “healthy” performance throughout 2022 on the back of the company’s price raising strategy in facing higher global prices of commodities, Al Ahly Pharos added.

It is worth noting that the company recorded a consolidated net profit attributable to the parent of EGP 350.68 million for the full-year ended December 31st 2021, compared to a net profit of EGP 310.36 million for the year ended December 31st 2020.

The company’s board of directors approved the distribution of cash dividends worth a total of EGP 260 million, equivalent to EGP 0.65 per share, to shareholders for the full-year 2021.

Established in 1997 and listed in 2016, Obour Land for Food Industries is an Egypt-based manufacturing company, which is specialized in the production, processing, and packaging of white cheese.