Cairo – Mubasher: Obour Land for Food Industries on Monday reported EGP 236.22 million in consolidated profits for fiscal year 2018, slightly down from EGP 243.19 million in 2017, including minority shareholders’ rights.

The company’s sales grew to EGP 2.4 billion last year, versus EGP 2 billion in 2017, the dairy said in a statement to the Egyptian Exchange (EGX).

At the level of standalone businesses, profit reached EGP 236.22 million in the full-year ended 31 December 2018, versus EGP 243.25 million in 2017.

Obour Land previously posted a 1.6% year-on-year increase in its consolidated profits for the first nine months of 2018.

The Egypt-based company logged a profit of EGP 179.3 million in the nine-month period ended September 2018, versus EGP 176.46 million in the corresponding period of 2017.