Minapharm Pharmaceuticals’ consolidated profits drop 68.1% YoY in 9 months: Egypt

Reuters/Asmaa Waguih

Minapharm Pharmaceuticals is an Egypt-based company engaged in the production and distribution of pharmaceutical products

Staff Writer, Arab Finance

November 29, 2023

PHOTO

Minapharm Pharmaceuticals (Minapharm) announced that its consolidated profit after minority interest plunged 68.12% year on year (YoY) during the first nine months of 2023, hitting EGP 143.100 million from EGP 448.810 million, as per the financial statement sent to the Egyptian Exchange (EGX) on November 29th.

Consolidated sales rose to EGP 3.049 billion in the three months to September from EGP 2.645 billion in the prior year period.

Minapharm posted a 70.6% YoY drop in standalone profit after tax during the first nine months of 2023, logging EGP 62.869 million, compared to EGP 214.094 million.

Minapharm Pharmaceuticals is an Egypt-based company engaged in the production and distribution of pharmaceutical products. It distributes its products within and outside Egypt.

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