Obour Land to launch new mozzarella product in 4Q18
Obour Land (OLFI.CA) is planning to launch a new mozzarella cheese product during 4Q18 as part of its expansion strategy in existing and new segments. The company had bought the production lines for the new product for EUR1.7mn in 2016. On another note, Obour Land is looking to begin its dairy farm activities by end of 2019, with plans to import c2,000 cows over three years. The company also noted that it does not intend to raise prices further in the coming period after the 4% price increase that was implemented during 9M18.
Obour Land: EGP18.50 as of 05 Nov 2018, Rating: Buy, TP: EGP28.00/share, MCap: USD207mn, OLFI EY/OLFI.CA
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