Egypt: EIPICO posts 29% growth in 9M-22 profits

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Cairo – The consolidated financial statements of the Egyptian International Pharmaceutical Industries (EIPICO) revealed a year-on-year (YoY) surge of 28.80% in net profits during the first nine months (9M) of 2022.

The company’s profits amounted to EGP 417.79 million in 9M-22, compared to EGP 324.17 million in 9M-21, including minority shareholders' rights.

The net sales increased to EGP 2.68 billion in the January-September period of 2022, compared to EGP 2.42 billion in the prior-year period, according to bourse disclosure on Monday.

As for the standalone business, the company posted net profits of EGP 384.39 million in the nine-month period ended 30 September, up from EGP 326.03 million in the corresponding period a year earlier.

During the first half (H1) of 2022, the consolidated financial statements of EIPICO showed a 28.8% increase in net profits to EGP 304.38 million, compared to EGP 236.24 million in the year-ago period.