Minapharm’s H1 standalone profit declines 46.7% YoY

Minapharm Pharmaceuticals (Minapharm) (MIPH) reported a 46.76% year-on-year (YoY) drop in standalone net profit after tax for the first half (H1) of 2023, according to the financial statement filed to the Egyptian Exchange (EGX) on August 14th.

Standalone net profit after tax stood at EGP 77.484 million in H1 2023, compared to EGP 145.528 million in H1 2022.

Sales amounted to EGP 1.251 billion in the first six months of 2023, up from EGP 1.104 billion in H1 2022.

Minapharm Pharmaceuticals is an Egypt-based company engaged in the production and distribution of pharmaceutical products. It is in cooperation with several international pharmaceutical companies and it distributes its products within and outside Egypt.