Obour Land for Food Industries reveals latest updates on Obour Farm
Updated 2/1/2022 10:19:54 AM
ArabFinance: Obour Land for Food Industries (OLFI) has obtained all the necessary licenses to carry out the construction works of Obour Farm in December 2021, according to a statement filed to the Egyptian Exchange (EGX).
By the beginning of 2022, the company has begun to continue the construction works of the farm.
The company is expected to sign a deal to receive the first shipment of imported cows by the end of 2022.
Spanning a 42-acre land plot, Obour Farm is being established at an investment cost of EGP 255 million.
It is worth noting that the project is set to farm around 2,500 livestock.
On January 30th, Obour Land announced it 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.
