Cairo – Mubasher: Glaxo SmithKline – Egypt on Thursday reported turning a profit in its consolidated results in the first half of 2017 on the back of higher sales.

The pharmaceutical company achieved EGP 103.86 million in consolidated profits in the first six months of 2017 against EGP 34.6 million in losses in the year-ago period, according to a filing to the Egyptian exchange.

The company’s sales grew to EGP 661.68 million in the period from January to June from EGP 570.6 million in the same period of 2016.

On Wednesday, Glaxo SmithKline – Egypt also posted profitable standalone results with EGP 101.67 million in profits in the first half of the year against EGP 31.6 million in losses in the prior-year period.