Obour Land’s consolidated profits rise 36% YoY in Q1 2024

Sales grew to EGP 1.75 billion in the three-month period ended March 31st this year from EGP 1.47 billion in the corresponding period last year

Staff Writer, Arab Finance

May 26, 2024

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Obour Land for Food Industries (OLFI) reported a 36.3% year-on-year (YoY) growth in consolidated net profits attributable to the parent company for the first quarter (Q1) of 2024, reaching EGP 157.025 million, compared to EGP 115.169 million, as per a disclosure.

Sales grew to EGP 1.75 billion in the three-month period ended March 31st this year from EGP 1.47 billion in the corresponding period last year.

As for the standalone financial statement, the company recorded net profits after tax of EGP 157.19 million in Q1 2024, up from EGP 115.383 million in Q1 2023.

Established in 1997 and listed in 2016, Obour Land for Food Industries is an Egypt-based manufacturing company, which is specialized in the production, processing, and packaging of white cheese.

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