“Arabia Pharmaceuticals” earns 33.1 million pounds in the first quarter

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The profits of “Arabia Pharmaceuticals and Chemical Industries” decreased by 19.1% during the first quarter of the current fiscal year, to reach 33.13 million pounds, compared to a net profit of 40.94 million pounds during the same period last fiscal year.

While the value of sales increased during the first quarter to reach 150.77 million pounds, compared to total sales of 148.76 million pounds in the comparative quarter.

The Ordinary General Assembly of “Arabia Pharmaceuticals and Chemical Industries” approved the financial statements and profit distribution account for the last fiscal year ending on June 30, 2021.

The general assembly approved the distribution of a cash coupon to shareholders of 5 pounds per share for the profits of the fiscal year 2020-2021.

The Assembly also approved the report of the Board of Directors on the company’s activity for the last fiscal year, and decided to release the Board of Directors for the period.

The company achieved a net profit after tax of 102 million pounds from the beginning of July 2020 until the end of June 2021, compared to 92.8 million pounds during the same period of the previous fiscal year.

The company’s profits increased by 29% during the first half of the fiscal year 2020-2021 to reach EGP 58.3 million, compared to EGP 45.1 million in net profits during the same period of the last fiscal year.

The company’s sales increased during the period to 291.2 million pounds, compared to sales of 271.8 million pounds in the comparable period of the previous fiscal year.

Gross profit rose during the same period to 134.1 million pounds, compared to 271.8 million pounds in the same period in 2019.

The basic share of profits amounted to 8.63 pounds, compared to 6.57 pounds in the same period.

Earlier, the Ordinary General Assembly of the “Arabia Pharmaceuticals and Chemical Industries” approved the proposed cash distribution for the fiscal year ending on June 30 last, amounting to 4 pounds per share.

The general assembly approved the report of the Board of Directors on the company’s activity and financial position for the fiscal year ending 06/30/2020, in addition to the draft dividends distribution in accordance with the provisions of Law No. 203 of 203 of 1991, its executive regulations and the company’s articles of association.

During the last fiscal year (2019-2020), the company achieved a net profit after tax of 93.6 million pounds from the beginning of July 2019 until the end of June 2020, compared to 43.1 million pounds during the same period of the previous fiscal year.

The company’s revenues rose during the last fiscal year to record about 520.79 million pounds at the end of June, compared to 436.35 million pounds during the previous fiscal year.

The Arab Company for Pharmaceuticals was established in 1963, and it is an Egyptian joint stock company with a long history of achievements since its inception until now.

Al Arabiya Pharmaceuticals attributed the increase in profits to the increase in the value of sales and production compared to the comparable period.

The article “Arabia Pharmaceuticals” earned 33.1 million pounds in the first quarter and was written in Al Borsa newspaper.