Cairo – Mubasher: Obour Land for Food Industries said Wednesday that profits grew 92% year-over-year in 2016 to EGP 342 million from EGP 178 million, according to the unaudited financial results.
Sales rose to EGP 1.45 billion, higher 24% year-on-year from EGP 1.17 million, the results revealed.
Earlier, the Egyptian Exchange executed the public and private placements at EGP 774.4 million.
The amount of the public and private offerings were 24 million shares and 56 million shares respectively at EGP 9.68 per share.
The public offering was covered by 1.94 times, while the private placement was covered by nearly 7.38 times.
