Cairo – Mubasher: Minapharm Pharmaceuticals reported a 69.67% year-on-year profit retreat during the first half of 2019, the company’s standalone financial statements showed.
The pharmaceuticals firm logged a profit of EGP 11.98 million in the January-June period of 2019, compared to EGP 39.51 million in the prior-year period, according to a statement to the Egyptian Exchange (EGX) on Thursday.
Meanwhile, the company’s cost of sales hiked to EGP 569.9 million in the six-month period ended 30 June, compared to EGP 271.39 million in the corresponding period a year earlier.
During the first quarter of 2019, Minapharm’s consolidated profit slid to EGP 43.99 million from EGP 82.6 million in Q1-18.
Year-on-year, the company’s revenues grew to EGP 522.19 million in the three-month period ended 31 March from EGP 493.21 million.
As for standalone business, the company posted a net profit of EGP 6.48 million in Q1-19, compared to EGP 13.26 million in Q1-18.
