Egypt: Macro Group turns to losses in 2023

Reuters/Asmaa Waguih

Consolidated sales plunged to EGP 526.006 million in 2023 from EGP 729.611 million in 2022

Staff Writer, Arab Finance

April 16, 2024

PHOTO

Macro Group Pharmaceutical (Macro Capital) has incurred EGP 272.651 million in consolidated net losses attributable to the parent company in 2023, versus net profits amounting to EGP 173.835 million in 2022, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on April 16th.

Consolidated sales plunged to EGP 526.006 million in 2023 from EGP 729.611 million in 2022.

The firm incurred standalone net losses after tax of EGP 270.157 million during the January-December period of 2023, against net profits of EGP 174.355 million in 2022.

Founded in 2002, Macro Group is a leading Egyptian cosmeceutical company based in Cairo.

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