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Ibnsina Pharma’s H1 profit declines 14% despite higher sales

Ibnsina Pharma’s H1 profit declines 14% despite higher sales
The company’s sales rose to EGP 9.1 billion
Ibnsina Pharma
ISPH
-1.08% 5.50 -0.06

Cairo – Mubasher: Ibnsina Pharma logged EGP 88.9 million in net profits during the first half (H1) of 2020, a 14% year-on-year (YoY) decrease from EGP 103.19 million.

On the other hand, the company’s sales increased to EGP 9.1 billion in the six-month period ended on 30 June from EGP 7.7 billion in the year-ago period, according to a bourse disclosure on Thursday.

During the first quarter (Q1) of 2020, Ibnsina Pharma reported a 19.7% profit growth to EGP 50.27 million from EGP 41.97 million in Q1-19.