Cairo – Mubasher: The consolidated net profits after tax of Obour Land for Food Industries stood at EGP 721.63 million in the first nine months (9M) of 2024, versus EGP 307.66 million.
The company reported sales amounting to EGP 6.67 billion as of 30 September 2024, up year-on-year (YoY) from EGP 5 billion, according to the consolidated statements.
Basic and diluted earnings per share (EPS) grew to EGP 1.55 in 9M-24 from EGP 0.66 in 9M-23.
Obour Land registered total assets valued at EGP 4 billion in 9M-24, versus EGP 2.58 billion as of 31 December 2023.
Standalone Results
Non-consolidated net profit after tax reached EGP 723.59 million in the January-September 2024 period, marking an annual surge from EGP 308.18 million.
Financials for Q3-24
In the third quarter (Q3) of 2024, the EGX-listed firm generated YoY higher consolidated net profits at EGP 298.72 million, compared to EGP 95.57 million.
In the three-month period that ended on 30 September 2024, the sales increased to EGP 2.83 billion from EGP 2.09 billion in Q3-23, while the basic and diluted EPS jumped to EGP 0.64 from EGP 0.21.
As for the standalone earnings, the company logged net profits after tax worth EGP 299.32 million in Q3-24, marking a YoY rise from EGP 95.69 million.
During the first half (H1) of 2024, the consolidated net profits hit EGP 422.91 million, while the standalone net profits stood at EGP 424.26 million.
