Cairo – Mubasher: Nile Pharmaceuticals and Chemical Industries (Nile Pharma) announced turning to a profit during fiscal year 2018/2019, according to the company's unaudited financial results. 

The pharmaceuticals company logged a profit of EGP 17.48 million from July 2018 to last June, against losses of EGP 17.59 million a year earlier, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

Meanwhile, revenues rose to EGP 636.06 million in the twelve-month period ended 30 June, compared to EGP 459.93 million in the year-ago period.

During the first eleven months of FY18/19, the company’s net profit registered EGP 19.5 million, versus a loss of EGP 5 million in the corresponding period a year earlier.