Cairo – Mubasher: Obour Land for Food Industries’ board of directors has recommended a cash dividend distribution of EGP 100 million, or EGP 0.25 piasters per share, for 2018 and 2014.

The board has proposed the distribution of EGP 99.17 million for 2018, in addition to EGP 822,170 dividend for 2014, Obour Land said in a statement to the Egyptian Exchange (EGX) on Monday.

Earlier this day, Obour Land reported EGP 236.22 million in consolidated profits for fiscal year 2018, 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.

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.