Cairo – Mubasher: The consolidated financial statements of Glaxo SmithKline (GSK Egypt) showed net profits of EGP 115.96 million in the first half (H1) of 2020, a 302% year-on-year (YoY) increase from EGP 28.847 million.

The company’s net sales increased to EGP 941.76 million in the six-month period ended on 30 June from EGP 767.636 million in the year-ago period, according to a bourse disclosure on Sunday.

As for standalone business, the pharmaceuticals company achieved net profits of EGP 110.59 million in H1-20, up from EGP 15.392 million in H1-19.

During the first three months of 2020, the company turned to net profits of EGP 33.14 million, against net losses of 7.55 million in the year-ago period, including minority shareholders’ rights.