OBOUR LAND FOR FOOD INDUSTRIES
OLFI
Financial ResultsPositive News
Obour Land Soars to EGP 157M Q1-24 Profit Amid Robust Sales Growth
Obour Land reports a 36.3% YoY profit surge to EGP 157M with sales hitting EGP 1.74B in Q1-24.
May 27, 2024 at 8:51:00 AMScore: 88
Obour Land for Food Industries achieved a significant leap in consolidated net profit after tax, hitting EGP 157.02 million in Q1-24, a notable rise from EGP 115.16 million in Q1-23. Sales surged by 18.1% year-on-year (YoY) to EGP 1.74 billion, compared to EGP 1.47 billion in the prior-year period. Basic and diluted earnings per share (EPS) climbed to EGP 0.34, up from EGP 0.25, reflecting strong profitability. Total consolidated assets expanded to EGP 3.28 billion by March 2024, a substantial increase from EGP 2.58 billion at the end of 2023. The standalone business also thrived, with net profits rising to EGP 157.19 million from EGP 115.38 million. For the 12 months ending December 2023, consolidated net profits grew marginally to EGP 470.68 million from EGP 462.38 million, including non-controlling interests.
Recommended Actions
- Consider adding Obour Land stock to your portfolio for growth potential.
- Monitor upcoming quarterly reports to confirm sustained momentum.
- Compare performance against industry peers to gauge competitive edge.
- Review debt levels and operational costs for sustainability.
- Consult a financial advisor to align investments with risk tolerance.
Positive Aspects
- 36.3% YoY profit growth
- 18.1% sales increase
- 35.7% asset expansion
- 36% EPS improvement
- Consistent standalone and consolidated performance
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