Arab Finance: Obour Land for Food Industries (OLFI) has reported a 25.6% year-on-year (YoY) growth in consolidated profit attributable to the parent company for the first half (H1) of 2022, according to the financial statements filed to the Egyptian Exchange (EGX) on July 27th.

The company’s consolidated profit excluding minority interest surged to EGP 180.848 million in H1 2022 from EGP 143.985 million in the same period a year earlier.

Consolidated sales soared to EGP 1.798 billion during the six-month period ended June 30th from EGP 1.303 billion in H1 2021.

As for standalone financial results, the company posted a net profit after tax of EGP 180.979 million in the January-June period, up from EGP 144.011 million during the comparative period a year ago.

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.