EIPICO’s consolidated profit leaps 29.5% YoY in 9 months

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The Egyptian International Pharmaceutical Industries Company (EIPICO) (PHAR) recorded a consolidated net profit attributable to the holding company of EGP 377.64 million in the first nine months of 2022, up by 29.54% year-on-year (YoY) from EGP 291.52 million, according to the consolidated financial income statement filed to the Egyptian Exchange (EGX) on November 14th.

The company achieved consolidated net sales of EGP 2.68 billion in the nine-month period ended September 30th, compared to EGP 2.42 billion in the same period a year earlier.

According to the standalone financial income statement, EIPICO recorded a standalone net profit after tax of EGP 384.39 million in the January-September period of 2022, compared to EGP 326.03 million in the corresponding period of 2021.

Founded in 1980, EIPICO is an Egypt-based public shareholding company that operates in the pharmaceutical industry. It is a manufacturer and exporter of pharmaceuticals and holds license agreements with a group of international.