Cairo - Mubasher: GlaxoSmithKline (GSK Egypt) reported an 82.2% year-on-year (YoY) drop in its consolidated net profits to EGP 20.63 million in the first half (H1) of 2021, compared to EGP 115.96 million, including minority shareholders' rights.
The net sales tumbled to EGP 755.34 million in the January-June period from EGP 941.76 million in the same period in 2020, the company said in a bourse disclosure on Wednesday.
As for standalone business, GSK Egypt's net profits fell to EGP 39.18 million in H1-21 from EGP 110.6 million in H1-20.
In the first quarter (Q1) of 2021, the company reported net profits of EGP 2.69 million, down from EGP 33.14 million in Q1-20.
The net sales retreated to EGP 319.9 million in the January-March period from EGP 433.9 million in the prior-year period.
