Cairo – Mubasher: Obour Land for Food Industries generated EGP 157.02 million in consolidated net profit after tax during the first quarter (Q1) of 2024, versus EGP 115.16 million in Q1-23.

The sales hit EGP 1.74 billion in Q1-24, up year-on-year (YoY) from EGP 1.47 billion, according to the consolidated financial results.

Basic and diluted earnings per share (EPS) stood at EGP 0.34 in the January-March 2024 period, an annual growth from EGP 0.25.

Total consolidated assets reached EGP 3.28 billion in Q1-24, versus EGP 2.58 billion at the end of December 2023.

As for the standalone business, the company’s net profits after tax increased to EGP 157.19 million in Q1-24 from EGP 115.38 million a year earlier.

In the 12-month period that ended on 31 December 2023, Obour Land witnessed higher consolidated net profits at EGP 470.68 million, versus EGP 462.38 million, including non-controlling interest.