Cairo – Mubasher: Kahira Pharmaceuticals has posted a 9.8% year-on-year decrease in its profits for the first nine months of fiscal year 2018/2019.
Net profit amounted to EGP 72.2 million in the nine-month period ended in March, versus EGP 80.02 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX)
Meanwhile, revenue rose by 19.2% to EGP 735.83 million from EGP 617.24 million in the same period of FY17/18.
The company attributed the drop in the nine-month profits to cancelling bills related to the domestic market and export that have been received in January, in addition to granting customers bonuses in a bid to boost sales.
Sales have also included some of the losing products which the company plans to change their prices, according to the statement.
It is worth noting that Kahira Pharmaceuticals previously posted an EGP 43.9 million in profits for the first half of FY18/19, versus EGP 52.6 million in the corresponding period of FY17/18.
