Cairo – Mubasher: The Egyptian International Pharmaceutical Industries (EIPICO) achieved net profits of EGP 339.46 million in the first nine months of 2020, down by 35% year-on-year (YoY) from EGP 522.19 million, the unaudited consolidated financial results showed.
Revenues slid to EGP 2.16 billion in the nine-month period ended 30 September from EGP 2.6 billion in the corresponding period a year earlier, the company said in a bourse disclosure on Wednesday.
As for standalone business, EIPICO recorded net profits of EGP 281.52 million in the January-September period, down from EGP 478.32 million in the same period in 2019.
During the first half (H1) of 2020, the company’s net profits dropped to EGP 262.2 million from EGP 398.3 million in H1-19.
