GSK Egypt’s consolidated profits skyrocket 32,000% YoY in Q1
Updated 6/14/2022 1:05:00 PM
Arab Finance: GlaxoSmithKline (GSK – Egypt) (BIOC) has reported a 32127.1% year-on-year (YoY) surge in consolidated profits attributable to the parent company during the first quarter (Q1) of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on Tuesday.
The company’s consolidated profits excluding minority interest soared to EGP 869.164 million in Q1 2022, from EGP 2.697 million in Q1 2021.
Net consolidated sales jumped to EGP 370.178 million in the three-month period ended March 31st, from EGP 140.045 million in the same period a year earlier.
It is worth noting that GSK Egypt recorded a standalone net profit of EGP 870.41 million in Q1 2022, compared to EGP 22.21 million in Q1 2021.
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.
