Arab Finance: Obour Land for Food Industries (OLFI) posted a 28% year-on-year (YoY) growth in consolidated profit attributable to the parent company during the first nine months of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on Tuesday.

The company’s consolidated net profit excluding minority interest amounted to EGP 326.663 million from January until the end of September 2022, up from EGP 255.187 million during the same period a year earlier.

Consolidated sales soared to EGP 3.141 billion in January-September from EGP 2.123 million the year before.

Obour Land’s standalone net profit after tax reached EGP 326.876 million in the first nine months of the year, up from EGP 255.242 million in the same period a year earlier.

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.