ICEC

Egypt’s food maker Obour Land H1 profits rise 19%

Egyptian Obour Land for Food Industries’ first-half net profits increased 19.1 percent to 114.37 million Egyptian pounds ($6.4 million), according to its consolidated financial statements released on Thursday.

Earlier, profits stood at 95.99 million during the first half of 2017.

The food maker firm made sales worth 1.12 billion pounds at the end of June of the current year up from 830.81 million pounds during the same period last year.

Standalone profits jumped to 114.62 million pounds, compared with 95.99 million pounds.

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