Ibnsina Pharmas profit up 25% in 2019; dividends proposed

Cairo – Mubasher: Ibnsina Pharma posted a 25% year-on-year rise in its net profits during 2019.

Net profits levelled up to EGP 328.77 million last year from EGP 262.5 million in the previous year, the company said in a statement to the Egyptian Exchange (EGX) on Monday.

Meanwhile, the company’s sales grew to EGP 16.6 billion in the year ended 31 December 2019 from EGP 13.3 billion a year earlier.

In addition, the board of directors recommended a dividend distribution of EGP 92.4 million for 2019, including cash dividends of EGP 57.4 million or EGP 0.07 per share and bonus shares valued at EGP 35 million at a rate of 0.17 bonus share for every share held.

Accordingly, the company’s capital will be increased to EGP 240 million distributed over 960 million shares from EGP 205 million distributed over 820 million shares.

It is noteworthy that during the January-September period of 2019, Ibnsina Pharma’s net profits hiked to EGP 245.6 million from EGP 190.6 million in the corresponding period a year earlier.

Source: Mubasher

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