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EIPICO’s consolidated profit hits EGP 823m in 2023

EIPICO’s consolidated profit hits EGP 823m in 2023
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Cairo – Mubasher: Egyptian International Pharmaceutical Industries (EIPICO) registered a consolidated profit for the year after tax of EGP 823.30 million in 2023 from EGP 643.76 million a year earlier.

Net sales surged to EGP 5.23 billion last year from EGP 3.95 billion in 2022, according to the annual financial statements.

Standalone Results

The standalone net profit after tax grew to EGP 730.08 million in 2023 from EGP 589.15 million the year before.

Net revenues jumped to EGP 5.01 billion last year from EGP 3.79 billion in 2022.

On the other hand, the earnings per share (EPS) reached EGP 5.15 in the 12-month period that ended on 31 December 2023, down from EGP 5.94 a year earlier.

It is worth noting that EIPICO recorded total sales of more than EGP 5 billion in 2023.

In the first nine months (9M) of 2023, the company’s consolidated net profits after tax soared to EGP 644.14 million from EGP 417.79 million in 9M-22.