ArabFinance: GlaxoSmithKline (BIOC) reported a 186% Year on Year (YoY) increase in its net consolidated profit for 2019, according to the company’s financial results published on April 30th.
Consolidated net profit reached EGP 142,635,872 in 2019, a rise from EGP 49,928,030 achieved a year earlier.
Similarily, standalone net profit reached EGP 110,265,836 in 2019, a 197% climb from EGP 37,123,070 posted in 2018.
In the first nine months of 2019, the company posted a consolidated profit of EGP 67,039,334, compared to EGP 129,530,519 in the same period a year ago, taking into account the minority rights.
Standalone profit reached EGP 60,434,396 in the same period of 2019, compared to EGP 108,559,640 in the corresponding period last year.
GlaxoSmithKline, a member of the British pharmaceutical company Glaxo Group Ltd., is an Egypt-based company engaged in the manufacture, packaging, marketing, sale, and distribution of pharmaceutical products. The company's wholly-owned subsidiary is Amoun Pharmaceutical Company, which is engaged in the production of medical appliances.
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