Cairo – Mubasher: Obour Land for Food Industries on Sunday reported a 1.6% year-on-year increase in its consolidated profits for the first nine months of 2018, encouraged by the growth of its sales.

The white cheese maker generated a profit of EGP 179.3 million in the nine-month period ended September, versus EGP 176.46 million in the same period of the prior year, according to a statement to the Egyptian Exchange (EGX).

Sales hiked 16.4% year-on-year to EGP 1.7 billion from January to September 2018.

Meanwhile, the company’s standalone profit stood at EGP 179.56 million during the period between January and September of this year, from EGP 176.46 million in the same period a year earlier.

It is worth mentioning that the company achieved a net profit of EGP 114.37 million for the first half of 2018.