Minapharm Pharmaceuticals reports 156% profit hike in H1-20

The company generated $66mln in revenue

  

Cairo –  The consolidated net profits of Minapharm Pharmaceuticals soared by 156% year-on-year (YoY) to EGP 130.11 million in the first half (H1) of 2020, compared to EGP 50.8 million.

Revenues increased to EGP 1.06 billion in the January-June period from EGP 997.49 million in the corresponding period a year earlier, according to a bourse filing to Sunday.

As for the second quarter (Q2) of the year, the pharmaceutical firm reported net profits of EGP 50.87 million, up from EGP 6.81 million in the prior-year period.

During the first three months of 2020, Minapharm Pharmaceuticals reported EGP 75.25 million in net profits, compared to EGP 42.42 million in Q1-19, including minority shareholders’ rights.

Source: Mubasher

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