Cairo – Mubasher: The net profits of Sabaa International Company for Pharmaceutical and Chemical Industry jumped by 76% year-on-year (YoY) to EGP 15.14 million in 2020, compared to EGP 8.58 million, the unaudited financial results showed.
The pharmaceutical company’s revenues rose to EGP 69.75 million last year from EGP 67.33 million in 2019, according to a bourse disclosure on Sunday.
The profit growth was ascribed to higher sales and lower marketing and general expenses.
The board of directors decided to establish new production lines with an investment of EGP 50 million.
During the first nine months of 2020, the company achieved net profits of EGP 6.7 million, up from EGP 1.82 million in the corresponding period in 2019.