Cairo – Mubasher: Kahira Pharmaceuticals reported a 21.4% year-on-year profit decline during fiscal year 2018/2019, pressured by higher cost of sales.
Net profits plunged to EGP 85.17 million from July 2018 to last June, compared to EGP 108.45 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.
Revenues increased to EGP 962.94 million in the twelve-month period ended 30 June from EGP 862.94 million in the same period a year earlier.
On the other hand, the company’s cost of sales grew to EGP 733.3 million in FY18/19, compared to EGP 619.25 million in FY17/18.
During the first nine months of FY18/19, Kahira Pharmaceuticals posted a net profit of EGP 72.2 million, compared to EGP 80.02 million in the corresponding period a year earlier.
