EIPICO’s consolidated profits rise 51% YoY in 9 months: Egypt

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The Egyptian International Pharmaceutical Industries Company (EIPICO) reported a 50.6% year-on-year (YoY) increase in consolidated net profit excluding minority interest for the first nine months of 2023, according to the financial income statement filed to the Egyptian Exchange (EGX) on November 14th.

Consolidated net profits logged EGP 568.707 million in the nine months ended September 30th, compared to EGP 377.648 million in the same period of 2022.

Moreover, the company generated consolidated net sales of EGP 3.681 billion in the nine-month period, growing from EGP 2.687 billion in the same period last year.

As per EIPICO’s standalone financial income statement, the company achieved a standalone net profit after tax of EGP 574.245 million in the first nine months of 2023, up from EGP 384.398 million in the year-ago months.

Meanwhile, standalone net sales rose to EGP 3.517 billion from EGP 2.316 billion.

EIPICO is an Egypt-based public shareholding company that operates in the pharmaceutical industry. It is a manufacturer and exporter of pharmaceuticals and holds license agreements with a group of international.