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Obour Land posts EGP 127m profit in H1

Obour Land posts EGP 127m profit in H1
Sales grew to EGP 1.18 billion

Cairo – Mubasher: Obour Land for Food Industries posted a 10.4% year-on-year consolidated profit rise during the first half of 2019.

Net profits increased to EGP 127.26 million in the January-June period of 2019, compared to EGP 115.18 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Year-on-year, sales grew to EGP 1.18 billion in the six-month period ended 30 June from EGP 1.12 billion.

At the level of standalone business, Obour Land’s profit rose to EGP 126.85 million in H1-19, compared to EGP 115.43 million in H1-18.

As for the second quarter of 2019, the EGX-listed firm logged a profit of EGP 74.27 million, up from EGP 64.56 million in Q2-18.

During the three-month period ended 31 March, the company’s profit registered EGP 53 million, compared to EGP 50.2 million in the prior-year period.