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