Obour Land Achieves 59.2% Growth in Sales, Reaching 5 Billion EGP in Nine Months
Obour Land for Food Industries, a prominent player in the food production sector, has released its financial statements for the first nine months of 2023. The company's board of directors has approved both the standalone and consolidated financial outcomes.
Financial Performance Highlights:
The consolidated financial results of Obour Land revealed a notable increase in sales and a slight decline in net profit for the nine-month period.
Net Profit Insights:
Obour Land reported a net profit of 307.66 million EGP during the first three quarters of the current year. This figure stands slightly lower compared to the net profit of 326.65 million EGP recorded during the same period in 2022, marking a modest decrease of 5.8%.
Sales Growth Trajectory:
The company's sales saw a significant jump, with a 59.2% growth in total sales amounting to 5 billion EGP, up from 3.14 billion EGP during the corresponding period.
Despite a slight dip in net profits, Obour Land's substantial growth in sales over the nine-month period underscores the company's robust performance and its strong position in the food industry marketplace. This sales milestone reflects the company's successful strategy and operational resilience in a dynamic economic environment.