Cairo – Mubasher: The unaudited consolidated financial results of the Egyptian International Pharmaceutical Industries (EIPICO) showed a 13.4% year-on-year (YoY) drop in its net profits during the first quarter of 2020.
EIPICO achieved net profits of EGP 189.1 million in the January-March period, compared to EGP 218.31 million in the corresponding period a year earlier, according to a bourse disclosure on Monday.
Meanwhile, the company’s sales retreated to EGP 770 million in Q1-20 from EGP 915.26 million in Q1-19.
As for standalone business, the company’s net profits slid to EGP 165.21 million in the three-month period ended on 31 March, compared to EGP 203.31 million in the prior-year period.
It is noteworthy to mention that in 2019, EIPICO’s net profits fell to EGP 671.4 million from EGP 701.3 million in 2018.
