Cairo – Mubasher: The standalone financial statements of Minapharm Pharmaceuticals showed a 36% year-on-year (YoY) decline in its net profits during 2019.
The company’s net profits stood at EGP 46.035 million last year, down from EGP 72.12 million in 2018, according to a bourse statement on Thursday.
Sales rose to EGP 1.487 billion in 2019, compared to EGP 1.43 billion in the prior year.
The company’s board of directors recommended a cash dividend distribution of EGP 73.76 million or EGP 6 per share for 2019 and retained earnings of EGP 89.8 million.
It is noteworthy to mention that in the January-September period of 2019, the company’s standalone net profits dropped to EGP 27.9 million from EGP 42.65 million in the year-ago period.
