Obour Land records profits of LE127.26M in H1 2019

CAIRO – 25 August 2019: Obour Land for Food Industries (OLFI) announced a 10.4 percent increase in its consolidated profits during the first half of 2019, recording LE 127.26 million, compared to LE 115.18 million during the same half of 2019.

The company’s financial indicators revealed that sales hiked to LE 1.18 billion during the first six months of 2019, up from LE 1.12 billion in the same months of 2018.

As per standalone results, the company recorded profits of LE 126.85 million during January/June 2019 period, compared to LE 115.43 million during the same period of 2018.

Moreover, the company hit profits of LE 74.27 million during the second quarter of 2019, compared to LE 64.56 million in the same quarter of 2018.

During the first quarter of 2019, Obour Land reached profits of LE 53 million, up from LE 50.2 million during the same period of prior year.

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