Cairo – Mubasher: October Pharma’s net profits for the year 2020 leapt by 161% on an annual basis, driven by lower production costs and expenses, to reach EGP 88.26 million.

Revenue hiked to EGP 543 million last year from EGP 523 million a year earlier, according to a bourse filing on Thursday.

Meanwhile, the company’s board of directors recommended distributing cash dividends of EGP 3 per share as well as 2 bonus shares for every share to shareholders for 2020.

In case the board’s recommendation is approved, the cash dividends will be paid first and then the bonus issue, the company said.