Naeem Holding sets target price of Obour Land

Updated 4/18/2021 12:30:00 PM

ArabFinance: Naeem Holding’s investment banking arm set the targeted price of Obour Land for Food Industries’ share at EGP 8.38 per each with purchase recommendation, according to Amwal Alghad.

Obour Land posted a consolidated net profit of EGP 310,365,589 in 2020, compared to EGP 295,277,928 achieved a year earlier.

The listed company’s board of directors approved cash dividends of EGP 240 million, an equivalent of EGP 0.60 per share.

Established in 1997 and listed in 2016, Obour Land for Food Industries is an Egypt-based manufacturing company, which is specialized in the production, processing and packaging of white cheese.