Cairo – Mubasher: The board of directors of October Pharma assented to increase the firm’s capital by EGP 60 million.

The company’s issued, paid-up, and authorised capital will be increased to EGP 120 million from EGP 60 million, the company said in a filing to the Egyptian Exchange (EGX) on Monday.

It is worth pinpointing that during the first half of 2019, October Pharma’s profits shrank to EGP 3.33 million from EGP 9.99 million during H1-18.

The company’s sales hiked to EGP 239 million during H1-19 from EGP 178 million in the year-ago period.