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Obour Land targets EGP 200m investments during FY19/20

Obour Land targets EGP 200m investments during FY19/20
The firm invested EGP 600 million in the last four years

Cairo – Mubasher: Obour Land for Food Industries plans to pump over EGP 200 million worth of investments during fiscal year 2019/2020 to develop the firm’s factories.

The food and beverage company invested near EGP 600 million during the past four years, the firm’s chairman and managing director, Mohamed Hamed, said in a bourse statement on Monday.

He added that Obour Land’s market share accounts for 42% of the packaged cheese market inside Egypt.

The company has also launched two new Tetra Pak packs: Tetra Brik® Aseptic 125ml Slim Leaf and Tetra Brik® Aseptic 250 Base Leaf. 

Obour Land expects to generate profits between EGP 280 million and EGP 290 million by the end of 2019 based on the financial results of the January-September period of the year.

It is worth noting that over the period from January to September 2019, the company saw higher profits at EGP 240.58 million from EGP 180.2 million a year earlier, including minority shareholders’ rights.