Cairo – Mubasher: Minapharm Pharmaceuticals reported a 51.3% year-on-year profit retreat during the first half of 2019, according to the company’s consolidated financial results.
Net profits tumbled to EGP 50.8 million during the six-month period ended 30 June, compared to EGP 104.49 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Thursday.
Revenues increased to EGP 997.49 million in H1-19, compared to EGP 980.6 million in H1-18.
As for the second quarter of 2019, the company’s profit plunged to EGP 6.81 million from EGP 21.89 million in Q2-18.
At the level of standalone business, Minapharm Pharmaceuticals previously reported a profit of EGP 11.98 million in the January-June period of 2019, compared to EGP 39.51 million in the year-ago period.
