Egypt: Obour Land rolls out investments, expansion plans for 2024

The company also aims to develop a livestock farm to raise 2,000 heads of dairy cattle on an area of 44 acres

Staff Writer, Mubasher

June 26, 2024

PHOTO

Obour Land for Food Industries plans to inject investments to expand dairy production capacity and establish a new processed cheese factory at a value of EGP 350 million.

The company also aims to develop a livestock farm to raise 2,000 heads of dairy cattle on an area of 44 acres, with a total investment of up to EGP 800 million, according to a bourse statement.

Furthermore, Obour Land seeks to double its export revenues to $40 million in 2024.

In the first quarter (Q1) of 2024, Obour Land recorded higher net profits after tax at EGP 157.02 million, versus EGP 115.16 million in the January-March 2023 period.

The sales increased to EGP 1.74 billion in Q1-24 from EGP 1.47 billion a year earlier, while the basic and diluted earnings per share (EPS) jumped to EGP 0.34 from EGP 0.25.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.