GSK Egypt’s consolidated profit skyrockets 1,213% YoY in 9 months

GlaxoSmithKline (GSK – Egypt) (BIOC) posted a 1,212.76% year-on-year (YoY) profit hike during the first nine months of 2022, according to consolidated financial statements filed to the Egyptian Exchange (EGX) on Wednesday.

The company’s consolidated profit excluding minority interest jumped to EGP 920.717 million in January-September from EGP 70.136 million a year earlier.

Revenues soared to EGP 1.163 billion in nine months to September 30th from EGP 630.477 million the year before.

It is noteworthy that the company’s standalone net profit soared to EGP 929.74 million in January-September from EGP 89.839 million in the same period a year earlier.

GSK Egypt, a member of the British pharmaceutical company Glaxo Group, is an Egypt-based company engaged in the manufacturing, packaging, marketing, selling, and distribution of pharmaceutical products.