Obour Land denies receiving offer from UAE Agthia to acquire company's shares

CAIRO - 24 July 2022: Obour Land for Food Industries had not received any offers to fully or partially acquire the company's shares.

 

This came in a filing by the company to the Egyptian Exchange (EGX) in response to what was published entitled: UAE Agthia seeks to acquire Obour Land for food industries.

 

Obour Land for Food Industries recorded a net profit of LE 90.61 million during the first three months of 2022, compared to LE 69.79 million during the same period in 2021, taking into account minority rights.

 

The company's sales rose during the first three months of 2022 to record LE 923.8 million at the end of March, compared to LE 663.72 million during the same quarter of 2021.

 

As for the standalone results, the profits of the independent company rose during the first quarter of 2022 to record LE 90.66 million at the end of March, compared to LE 69.81 million during the same period of 2021.

 

Obour Land operates in the food, beverage and tobacco sector with a focus on canned food and meat.