Obour Land posts 31.85% YoY growth in 2022 consolidated profit

Obour Land for Food Industries (OLFI) reported a 31.85% year-on-year (YoY) growth in consolidated net profits after tax and non-controlling interests for 2022, according to the company’s financial statements filed to the Egyptian Exchange (EGX) on January 29th.

Consolidated net profits attributable to the parent company amounted to EGP 462.39 million in 2022, compared to a profit of EGP 350.62 million in 2021.

Meanwhile, consolidated sales grew to EGP 4.56 billion last year from EGP 3 billion in 2021.

At the level of the standalone financial statement, the company recorded a standalone net profit after tax of EGP 462.69 million in 2022, up from EGP 350.79 million in 2021.