Cairo – Mubasher: Minapharm Pharmaceuticals has reported a 34.5% year-on-year profit decline during the first nine months of 2019, the company’s standalone financial statements showed.

Net profit declined to EGP 27.9 million from January to September, compared to EGP 42.65 million in the year-ago period, according to a bourse statement.

In the first nine months of 2019, Minapharm’s standalone sales rose to EGP 1.11 billion, from EGP 1.07 billion a year earlier.

The EGX-listed company’s net profit tumbled to EGP 50.8 million during the six-month period ended 30 June, compared to EGP 104.49 million in the year-ago period.