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Obour Land profits rise 19% in H1

Obour Land profits rise 19% in H1
Net amounted to EGP 114.37 million in the six-month period ended June

Cairo – Mubasher: Obour Land for Food Industries on Thursday reported a 19.1% year-on-year increase in consolidated profits for the first half of 2018.

Net amounted to EGP 114.37 million in the six-month period ended June, up from EGP 95.99 million in the year-ago period, the company said in a filing to the Egyptian Exchange (EGX).

Sales grew to EGP 1.12 billion at the end of June, versus EGP 830.81 million in H1-17.

Obour Land previously posted a 50% year-on-year surge in its consolidated profits during the full-year 2017, encouraged by the growth of sales.

The white cheese maker generated profits worth EGP 243.19 million last year, versus EGP 161.9 million in 2016.

Sales jumped to EGP 2.06 billion during the year ended 31 December 2017, compared to EGP 1.45 billion a year earlier.