GSK Egypt’s profit surges 51% in 9 months

GSK Egypt’s profit surges 51% in 9 months

GSK Egypt's profit surges 51% in 9 months Sales increased to $90mln in the January-September period    Cairo -  Glaxo SmithKline (GSK Egypt) reported a 51.2% year-on-year (YoY) growth in its consolidated net profits, logging EGP 101.41 million in the first nine months of 2020, compared to EGP 67.03 million.The company's sales increased to EGP 1.42 billion in the nine-month period ended 30 September from EGP 1.19 billion in the year-ago period, according to a bourse disclosure on Wednesday.As for standalone business, GSK Egypt achieved net profits of EGP 114.24 million in the January-September period, up from EGP 60.43 million in the corresponding period a year earlier.During the first half (H1) of 2020, GSK Egypt recorded net profits of EGP 115.96 million, up from EGP 28.847 million in H1-19.Source: MubasherAll