Cairo – Mubasher: Obour Land for Food Industries plans to inject investments to expand dairy production capacity and establish a new processed cheese factory at a value of EGP 350 million.

The company also aims to develop a livestock farm to raise 2,000 heads of dairy cattle on an area of ​​44 acres, with a total investment of up to EGP 800 million, according to a bourse statement.

Furthermore, Obour Land seeks to double its export revenues to $40 million in 2024.

In the first quarter (Q1) of 2024, Obour Land recorded higher net profits after tax at EGP 157.02 million, versus EGP 115.16 million in the January-March 2023 period.

The sales increased to EGP 1.74 billion in Q1-24 from EGP 1.47 billion a year earlier, while the basic and diluted earnings per share (EPS) jumped to EGP 0.34 from EGP 0.25.