Ibnsina Pharma’s consolidated profit falls 50.6% YoY in 9 months
Updated 11/13/2022 11:55:27 AM
Arab Finance: Ibnsina Pharma (ISPH) reported a 50.6% year-on-year (YoY) decline in consolidated profit attributable to the parent company during the first nine months of 2022, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on November 13th.
The company recorded a consolidated net profit after minority interest of EGP 119.59 million in the nine-month period ended September 30th, compared to EGP 242.18 million in the year-ago period.
The company’s consolidated net sales rose to EGP 15.71 billion in the nine-month period ended September 30th from EGP 15.75 billion in the same period a year earlier.
Meanwhile, Ibnsina’s standalone net profit after tax fell to EGP 120.34 million in the January-September period of 2022 from EGP 241.27 million in the comparative period of 2021.
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
