OBOUR LAND FOR FOOD INDUSTRIES
OLFI
Companies InvestmentsPositive News
Obour Land Unveils Bold 2024 Growth Strategy with Major Investments
Obour Land invests EGP 1.15B in expansion, reports 36% profit surge, and targets $40M exports in 2024.
June 26, 2024 at 10:41:00 AMScore: 88
Cairo-based Obour Land for Food Industries (OLFI) has announced aggressive expansion plans for 2024, allocating EGP 350 million to boost dairy production and build a state-of-the-art processed cheese facility. The company also revealed a EGP 800 million livestock project to establish a 44-acre farm housing 2,000 dairy cattle. With export revenue targets doubled to $40 million this year, Obour Land reported a 36% year-on-year surge in Q1 net profits to EGP 157 million, alongside a 18% sales increase to EGP 1.74 billion. Earnings per share climbed to EGP 0.34 from EGP 0.25 in early 2023.
Recommended Actions
- Consider accumulating shares on price dips below EGP 18.50
- Monitor export progress through 2024 trade reports
- Track dairy sector trends using platforms like TradingView
- Evaluate dividend potential based on EPS growth
- Set price alerts near 52-week high (EGP 19.30)
Positive Aspects
- 36% net profit growth YoY
- Accelerated export revenue targets
- 18% sales expansion in Q1-2024
Negative Aspects
- High capital expenditure requirements
- Dependency on dairy market stability
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