Cairo – Mubasher: GlaxoSmithKline (GSK Egypt) posted consolidated net profits amounting to EGP 92.55 million in the first half (H1) of 2024, versus EGP 19.57 billion in H1-23.
Net revenues reached EGP 1.35 billion in H1-24, higher year-on-year (YoY) than EGP 996.49 million, according to the consolidated financial statements.
During the first six months (6M) of 2024, the earnings per share (EPS) climbed to EGP 1.11 from EGP 0.23 in H1-23.
Total assets amounted to EGP 3.74 billion in H1-24, compared to EGP 3.55 billion as of 31 December 2023.
Standalone Financials
The group recorded an annual rise in standalone net profit after tax to EGP 99.54 million during January-June 2024, compared to EGP 9.24 million.
Results for Q2
GSK Egypt achieved consolidated profits valued at EGP 101.54 million in the second quarter (Q2) of 2024, higher than EGP 5.76 million in Q2-23.
Basic and diluted EPS jumped to EGP 1.22 in Q2-24 from EGP 0.07 a year earlier, while the net revenues enlarged to EGP 642.44 million from EGP 535.83 million.
In Q2-24, the standalone net profits grew to EGP 101.58 million from EGP 11.76 million in Q2-23.
As of 31 March 2024, GSK Egypt shifted to consolidated net losses valued at EGP 8.98 million, against net profits worth EGP 13.81 million in Q1-23.
