Cairo – Mubasher: Obour Land for Food Industries posted growth in the consolidated net profits to EGP 350.68 million in 2021 from EGP 310.36 million in 2020.
The company's revenues increased by 10% to EGP 3 billion in 2021, compared to EGP 2.74 billion in the earlier year, according to a bourse filing on Sunday.
As for the standalone businesses, the company's net profits reached EGP 350.79 million in 2021, up 13% from EGP 310.4 million in the previous year.
The earnings before interest, taxes, depreciation, and amortization (EBITDA) recorded an 8% year-on-year (YoY) rise to EGP 510.7 million in 2021.
Meanwhile, the company's board has recommended a cash dividend distribution of EGP 260 million or 65 piasters per share for 2021.
It is noteworthy to mention that in the first nine months of 2021, the company registered consolidated net profits of EGP 255.18 million, up by 6.5% YoY from EGP 239.5 million, including minority shareholders' rights.
