Cairo – Mubasher: Ibnsina Pharma registered consolidated net profits of EGP 224.66 million in 2020, down by 32% year-on-year (YoY) from EGP 328.77 million a year earlier, including minority shareholders’ rights.
On the other hand, sales grew to EGP 18.67 billion last year from EGP 16.6 billion in 2019, the company said in a bourse disclosure on Monday.
The standalone net profits retreated to EGP 224.78 million in 2020, compared to EGP 328.77 million a year earlier.
The board of directors recommended a 0.1666-for-one bonus issue at a total value of EGP 40 million.
The bonus issue will be funded from 2020’s net profits, increasing the issued capital to EGP 280 million divided over 1.12 billion shares at a nominal value of EGP 0.25 apiece.
During the first nine months of 2020, Ibnsina Pharma logged net profits of EGP 200.6 million, down from EGP 245.6 million in the corresponding period in 2019.
