Minapharm Pharmaceuticals’ consolidated profits drop 48.02% YoY in H1: Egypt

Minapharm Pharmaceuticals (Minapharm) (MIPH) posted a 48.02% year-on-year (YoY) drop in consolidated profit after minority interest and tax during the first half (H1) of 2023, according to financial statements filed to the Egyptian Exchange (EGX) on August 29th.

The company’s consolidated profit declined to EGP 137.651 million in the six months to June 30th from EGP 264.809 million during the same period a year earlier.

Operating revenues soared to EGP 2.043 billion during the January-June period from EGP 1.660 billion during the first six months of 2022.

The firm announced before that it registered a 46.76% YoY drop in standalone net profit after tax for the first half (H1) of 2023.

Minapharm Pharmaceuticals is an Egypt-based company engaged in the production and distribution of pharmaceutical products. It distributes its products within and outside Egypt.