ICEC

Egypt’s Obour Land profits rise 1.6% in nine months

Egypt’s Obour Land for Food Industries on Sunday reported a 1.6 percent increase in its profits during the first nine months of this year, driven by the growth of its sales.

The white cheese maker generated a profit of 179.3 million Egyptian pounds ($10 million) in the nine-month period ended in September, versus 176.46 million pounds last year, according to a statement to the Egyptian Exchange (EGX).

Sales hiked by 16.4 percent  to 1.7 billion pounds during the January-September 2018 period.

the company’s standalone profits stood at 179.56 million pounds during the period between January and September of the year from 176.46 million pounds during the same period in 2017.

Obour Land  achieved a net profit of 114.37 million pounds during for the first half of the current year.

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