The board of Nile Pharmaceuticals and Chemical Industries endorsed financial results for the fiscal year that ended on June 30, 2014, showing that net profit fell 21% to EGP 17.7 million from EGP 22.3 million a year earlier.
FY13/14 revenues amounted to EGP 337 million, compared with EGP 354 million in FY12/13. The company’s financial indicators for the eleven-month period from July 1, 2013 till May 31, 2014 had shown EGP 12.9 million distributable net profit, with a decline by 41% compared with EGP 22 million in the same period a earlier.
The drug manufacturer had posted EGP 12.7 million net profit in the nine-month period from July 1, 2013 till April 30, 2014, compared with EGP 21 million net profit in the year-ago period.