Cairo – Mubasher: The initial financial results of The Arab Drug Company indicated an annual plunge in net profits before tax to EGP 42.94 million during the four-month period that ended on 31 October 2021.

The profits were down from EGP 52.92 million in the first four months of fiscal year (FY) 2020/2021, according to a bourse filing on Thursday.

Arab Drug posted an annual decrease in net sales to EGP 190.9 million during the period from 1 July to 31 October this year, compared to EGP 198.77 million in the same four months in 2020.

It is worth noting that during FY20/21, the company recorded nearly 10% rise in net profits to EGP 102 million from EGP 92.8 million in FY19/20.