Union Pharmacist reports 95% profit decline
Updated 8/12/2020 9:46:00 AM
ArabFinance: Union Pharmacist Company for Medical Services and Investment (UPMS) achieved a 95% Year on Year slump in its net profit for the first half (H1) of 2020, according to the company’s August 11th disclosure filed to the Egyptian Exchange.
Net profit reached EGP 2,734 in H1 2020, compared to EGP 50,956 achieved in the corresponding period.
The company attributed the profit decline to not making any sales of housing units during the period, in addition to payment of due taxes.
In 2019, the company posted a net profit of EGP 90,652, a 66% decrease net profit of EGP 266,537 a year earlier.
Established in 2008 and listed in 2016, Union Pharmacist operates within the pharmaceuticals, biotechnology, and life sciences sector.
