Cairo – Mubasher: Minapharm Pharmaceuticals on Sunday reported a 16.5% year-on-year rise in profits for the full fiscal year 2018.
The company’s net profits hit EGP 72.12 million from January to December 2018, up from EGP 61.9 million during 2017, according to a statement to the Egyptian Exchange (EGX).
Sales rose to EGP 1.43 billion last year, from EGP 1.23 billion a year earlier.
The company’s board of directors recommended distributing EGP 83 million as cash dividends for FY18’s earnings along with dividends for FY17 retained profits, Minapharm said in a separate statement.
Total dividends available for distribution stand at EGP 223.3 million of which EGP 72.1 million as net profit in FY18 and EGP 151.22 million retained earnings from 2017.
Dividends represent 67.5% of the paid-up capital.
