Cairo – Mubasher: GlaxoSmithKline (GSK Egypt) achieved consolidated net profits worth EGP 19.57 million in the first half (H1) of 2023, an annual plunge from EGP 871.81 million, including minority interest.
As for the standalone business, the net profit after tax shrank to EGP 9.24 million in H1-23 from EGP 882.99 million in H1-22, according to the financial statements.
Meanwhile, the non-consolidated sales jumped to EGP 1 billion as of 30 June 2023 from EGP 716.78 million in the year-ago period.
Earnings per share (EPS) stood at EGP 0.11 in the first six months (6M) of 2023, down year-on-year (YoY) from EGP 10.57.
Income Statements for Q2-23
In the second quarter (Q2) of 2023, the EGX-listed firm turned to standalone net losses after tax valued at EGP 11.72 million, against profits amounting to EGP 12.58 million during the same quarter in 2022.
Standalone revenues widened to EGP 539.65 million in Q2-23 from EGP 246.60 million a year earlier, while the EPS declined to EGP 0.14 from EGP 0.15.
During the three-month period that ended on 31 March 2023, GSK Egypt witnessed YoY lower consolidated net profits after tax at EGP 13.81 million, versus EGP 869.16 million, including non-controlling equity.
