Cairo – Mubasher: Obour Land for Food Industries’ adjusted financial statements for fiscal year 2016 showed a year-on-year rise of 76.2% in the company’s net profit.
Net profit for FY16 amounted to EGP 161.9 million, compared to EGP 91.85 million for FY15, according to a bourse filing.
Sales increased in FY16 to EGP 1.45 billion, versus EGP 1.16 billion in FY15.
The company’s board recommended cash dividends worth EGP 60 million (60% of the capital).
Foreign exchange losses reached EGP 93.04 million, another statement said.
