Arab Finance: GlaxoSmithKline (GSK – Egypt) (BIOC) posted a 94.92% year-on-year (YoY) consolidated profit hike during the first nine months of 2022, according to the financial statements filed to the Egyptian Exchange (EGX) on November 15th.
The company’s consolidated profit excluding minority interest dropped to EGP 46.728 million in January-September from EGP 920.71 million a year earlier.
Revenues soared to EGP 1.576 billion in nine months to September 30th from EGP 1.269 billion the year before.
The company’s standalone net profit declined to EGP 44.463 million in January-September from EGP 929.740 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.