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EIPICO records EGP 304.4m net earnings in H1-22

EIPICO records EGP 304.4m net earnings in H1-22
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Cairo – Mubasher: The consolidated financial statements of the Egyptian International Pharmaceutical Industries (EIPICO) showed a 28.8% increase in net profits during the first half (H1) of 2022.

EIPICO’s earnings netted EGP 304.38 million during the January-June period in 2022, compared to EGP 236.24 million in the year-ago period, including minority shareholders’ rights, according to a bourse filing on Wednesday.

Sales during H1-22 stood at EGP 1.73 billion, up from EGP 1.54 billion in H1-21.

As for the standalone financials, the company achieved profits of EGP 297.59 million in H1-22, compared with EGP 244.99 million in H1-21.

In the first quarter (Q1) of 2022, the consolidated net profits of EIPICO jumped by 20.90% annually to EGP 173.68 million from EGP 143.54 million.

Meanwhile, the company generated revenues of EGP 927.37 million in Q1-22, up from EGP 800.38 million in the year-ago period.