Cairo – Mubasher: October Pharma reported an 84.6% year-on-year surge in its net profits during 2019 on the back of higher sales.

The pharmaceutical company’s net profits hiked to EGP 33.83 million last year from EGP 18.3 million in the previous year, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Sales soared to EGP 523 million in the 12-month period ended 31 December 2019, compared to EGP 400.6 million a year earlier.

It is noteworthy that during the first nine months of 2019, October Pharma’s net profits went up to EGP 19 million from EGP 16 million in the year-ago period.