Arab Finance: Macro Group Pharmaceutical (Macro Capital) has reported a 69.2% year-on-year (YoY) decline in consolidated profits attributable to the parent company during the first quarter (Q1) of 2023, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on May 17th.

The group recorded a consolidated net profit excluding minority interest of EGP 9.444 million in Q1 2023, compared to EGP 30.668 million in Q1 2022.

Consolidated sales soared to EGP 155.200 million in Q1 2023 from EGP 134.913 million in Q1 2022.

The firm achieved standalone net profits after tax of EGP 10.669 million during the January-March period of this year, down from EGP 31.089 million in the first three months of 2022.

Macro Group announced earlier that it targets sales of EGP 1 billion in 2023.

Founded in 2002, Macro Group is a leading Egyptian cosmeceutical company based in Cairo.

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