Arab Finance: GlaxoSmithKline (GSK – Egypt) (BIOC) posted a 91.8% year-on-year (YoY) decline in consolidated net profits after tax and non-controlling interest to EGP 60.456 million from EGP 735.379 million, as per a statement.
Net sales soared to EGP 2.24 billion in 2023 from EGP 1.823 billion a year earlier.
The company’s standalone net profits were knocked down to EGP 74.098 million last year from EGP 718.184 million in 2022.
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.