Cairo – Mubasher: The unaudited financial results of Kahira Pharmaceuticals reported a 17.66% year-on-year profit decline during the first quarter of fiscal year 2019/2020.
Net profits slid to EGP 25.72 million from July 2018 to last June, compared to EGP 31.24 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Tuesday.
The profit decrease was ascribed to lower sales as invoices have not been sent yet to customers, the statement showed.
Sales retreated to EGP 247.8 million in the three-month period ended 30 September, compared to EGP 260.3 million in the corresponding period a year earlier.
It is worth mentioning that during FY18/19, Kahira Pharmaceuticals logged a net profit of EGP 85.17 million, down from EGP 108.45 million in the prior fiscal year.
