October Pharma reported an 80% year-on-year profit surge during 2019 on the back of higher sales, according to the company’s financial indicators.
Net profits soared to EGP 32.5 million last year from EGP 18 million in 2018, the company said in a statement.
Meanwhile, the company’s sales surged to EGP 523 million in the 12-month period ended 31 December 2019, compared to EGP 400.6 million a year earlier.
It is noteworthy that during the January-September period of 2019, October Pharma’s net profits rose to EGP 19 million, up from EGP 16 million in the year-ago period.
October Pharma S.A.E. was founded in 1987 and manufactures as well as distributes pharmaceutical drugs in many fields aiming to be a leading modern pharmaceutical company meeting the most advanced marketing, regulatory and pharmaceutical manufacturing standards to develop and manufacture proven high quality, effective and affordable generics in innovative drug delivery techniques.
Source : Mubasher