Ibnsina Pharma sees 24% YoY consolidated profit surge in 2023
Updated 3/3/2024 11:39:00 AM
Arab Finance: Ibnsina Pharma (ISPH) reported a 23.8% year-on-year (YoY) increase in consolidated profits attributable to the parent company during 2023, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on March 3rd.
The company recorded a consolidated net profit after minority interest of EGP 213.66 million last year, compared to EGP 172.584 million in the year-ago period.
The company’s consolidated net sales climbed to EGP 33.949 billion in 2023 from EGP 22.264 billion in 2022.
Meanwhile, the firm’s standalone net profits after tax rose to EGP 246.982 million from EGP 176.375 million.
Standalone sales saw a yearly surge to EGP 33.843 billion from EGP 22.178 billion in 2022.
Established in 2001, Ibnsina Pharma is the second-largest pharmaceutical distributor in Egypt, distributing products from over 350 global and local companies to more than 46,000 customers of pharmacies, hospitals, wholesalers, and healthcare institutions.
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