Cairo – Mubasher: The unaudited financial results of Nile Pharmaceuticals and Chemical Industries (Nile Pharma) showed a turn to profitability in the first half of fiscal year 2019/2020.  

The pharmaceuticals company reported net profits of EGP 34.9 million in the six-month period ended 31 December 2019, against net losses of EGP 5.15 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

Revenues grew to EGP 435.83 million in the July-December period of 2019, compared to EGP 315.79 million in the corresponding period a year earlier.

Meanwhile, the cost of production amounted to EGP 302 million during the first six months of FY19/20, up from EGP 260.1 million in the prior-year period.

It is noteworthy that during the first four months of FY19/20, the company posted a net profit of EGP 26.6 million, versus a net loss of EGP 12.6 million in the year-ago period.