Minapharm’s net profits grow 31.36% YoY in 2022

Minapharm Pharmaceuticals (MIPH) reported a 31.36% year-on-year (YoY) increase in consolidated net profits after tax and minority interest for the full year ended December 31st 2022, according to the company’s financial statements filed to the Egyptian Exchange (EGX) on March 30th.

The company recorded a consolidated net profit attributable to the parent company of EGP 612.663 million in 2022, compared to a profit of EGP 466.406 million in 2021.

Consolidated revenues amounted to EGP 3.620 billion last year, up from EGP 3.005 billion in 2021.

Meanwhile, the company’s standalone net profit after tax dropped to EGP 274.913 million in 2022 from EGP 275.453 million in 2021.

Minapharm Pharmaceuticals is an Egypt-based company engaged in the production and distribution of pharmaceutical products. It is in cooperation with several international pharmaceutical companies and it distributes its products within and outside Egypt.