Cairo – Mubasher: The Egyptian International Pharmaceutical Industries (EIPICO) reported a 34% year-on-year (YoY) decrease in its consolidated net profits to EGP 262.2 million in the first half (H1) of 2020, compared to EGP 398.3 million.

Meanwhile, EIPICO generated EGP 1.45 billion in revenue in the six-month period ended on 30 June, down from EGP 1.75 billion in the corresponding period in 2019, according to a bourse disclosure on Tuesday.

As for standalone business, the company’s net profits fell to EGP 221.7 million in H1-20 from EGP 371.2 million in H1-19.

During the first quarter (Q1) of 2020, EIPICO achieved net profits of EGP 189.1 million, down from EGP 218.31 million in Q1-19.