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(FILES) In this file photo A man counts Egyptian pounds at currency exchange shop in downtown Cairo on November 3, 2016. - With Egypt's economy in crisis, the currency in freefall and inflation skyrocketing, the poor have been hit hard but the middle class is also teetering on the brink. The Egyptian pound has lost half its value against the dollar since March, following a devaluation demanded as part of a $3 billion International Monetary Fund loan agreement. Official annual headline inflation hit 21.9 percent in December, and food prices surged 37.9 percent in the Arab world's most populous nation. (Photo by KHALED DESOUKI / AFP)
Macro Group Pharmaceutical (Macro Capital) has incurred a consolidated net loss attributable to the parent company worth EGP 66.119 million during the first nine months of 2024, versus net profits amounting to EGP 98.090 million in the same period a year earlier, according to financial statements filed to the Egyptian Exchange (EGX) on November 12th.
Net sales dropped to EGP 319.207 million in the January-September period of 2024 from EGP 589.530 million in the year-ago period.
Furthermore, the standalone net loss after tax totaled EGP 64.442 million during the period from January 1st to September 30th, against net profits of EGP 100.348 million.
Founded in 2002, Macro Group is a leading Egyptian cosmeceutical company based in Cairo.
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