Egypt: EIPICO records higher consolidated profits in Q1-23

Egypt: EIPICO records higher consolidated profits in Q1-23

Egyptian International Pharmaceutical Industries (EIPICO) registered EGP 188.41 million in consolidated net profit after tax during the first quarter (Q1) of 2023.

The generated profits were higher than EGP 173.68 million in Q1-22, including minority interest.

EIPICO posted revenues valued at EGP 992.42 million as of 31 March 2023, an annual surge from EGP 927.37 million, according to the income statements.

Standalone Financial Results

The EGX-listed firm witnessed a year-on-year (YoY) drop in standalone net profit after tax to EGP 182.64 million during January-March 2023, versus EGP 185.89 million.

Non-consolidated sales increased to EGP 933.44 million during Q1-23 from EGP 899.33 million in the year-ago period.

In the first three months (3M) of 2023, the basic earnings per share (EPS) retreated to EGP 1.84 from EGP 1.87 in Q1-22.

During the 12-month period that ended on 31 December 2022, the company achieved consolidated net profits after tax worth EGP 643.76 million, up YoY from EGP 488.28 million, including non-controlling equity.

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