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Minapharm Pharmaceuticals posts 77% consolidated profit surge in Q1-20

Minapharm Pharmaceuticals posts 77% consolidated profit surge in Q1-20
The company’s net sales amounted to EGP 551.01 million

Cairo – Mubasher: The consolidated financial statements of Minapharm Pharmaceuticals reported a 77.3% year-on-year (YoY) profit growth to EGP 75.25 million during the first quarter of 2020, compared to EGP 42.42 million, including minority shareholders’ rights.

The company’s net sales amounted to EGP 551.01 million in the January-March period from EGP 522.19 million in the prior-year period, according to a statement to the Egyptian Exchange (EGX) on Monday.

Previously, the company’s standalone financial results showed net profits of EGP 18.5 million, up by 185% YoY from EGP 6.48 million.

It is worth mentioning that in 2019, the company posted net profits of EGP 148.41 million, compared to EGP 124.24 million a year earlier.