Tawasul
Mubasher TV
Contact Us Advertising   العربية

GSK Egypt turns profitable in Q1-20

GSK Egypt turns profitable in Q1-20
The pharmaceutical company’s net sales increased to EGP 433.97 million
Glaxo SmithKline
BIOC
-1.77% 17.11 -0.30

Cairo – Mubasher: Glaxo SmithKline (GSK Egypt) turned to net profits of EGP 33.14 million during the first quarter (Q1) of 2020, against net losses of 7.55 million in the year-ago period, including minority shareholders’ rights, the consolidated financial statements showed.

The pharmaceutical company’s net sales increased to EGP 433.97 million in the January-March period from EGP 373.68 million in the corresponding period a year earlier, according to a bourse disclosure on Monday.

As for standalone business, GSK Egypt moved to net profits of EGP 31.91 million in Q1-20, versus net losses of EGP 15.418 million in Q1-19.

It is worth mentioning that in 2019, the company achieved net profits of EGP 142.6 million, up from EGP 49.91 million in 2018.