Cairo – Mubasher: Nile Pharmaceuticals and Chemical Industries on Sunday said that it turned to losses in the seven-month period ended in January 2018, compared to the same period a year earlier. 

The manufacturer and exporter of medical and veterinary drugs reported EGP 5.2 million in losses during the July - January period, against profits worth EGP 23.1 million in the corresponding period the year before, according to a statement to the Egyptian Exchange (EGX).

The EGX-listed firm attributed the losses to a rise in production cost by EGP 202.6 million in the seven-month period, up from EGP 186.9 million in the prior-year period.

The company’s profits amounted EGP 2.4 million during the six months ended in December 2017, compared to EGP 15.9 million in the same period the year before.

Nile Pharmaceuticals’ revenues rose to EGP 227.67 million during the first half of the current fiscal year, from EGP 226.67 million in the same period the previous year.

By 12:03 pm Cairo time, the stock fell 0.13% to EGP 15.35.