EIPICO posts 34% profit decline

Company announced distributing a cash dividend

ArabFinance: The Egyptian International Pharmaceutical Industries Company (EIPICO) (PHAR) posted a 34% Year on Year decrease in its consolidated net for the first half (H1) of 2020, according to the company’s August 10th financial statements filed to the Egyptian Exchange.

Consolidated net profit reached EGP 262.201 million in H1 2020, compared to EGP 398.350 million achieved in H1 2019.

In the same quarter of 2020, standalone net profit reached EGP 221.763 million, a 40% decline from EGP 371.244 million posted in Q1 2018.

Earlier, the company announced distributing a cash dividend of EGP 4.0655 per share on April 27th.

EIPICO is an Egypt-based public shareholding company that operates in the pharmaceutical industry. It is a manufacturer and exporter of pharmaceuticals and holds license agreements with a group of international pharmaceutical companies to produce their products locally and replace the imported ones.


Copyright © 2020 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities