GSK-Egypt losses shrink by 6% in Q2-2016

Glaxo Smith Kline SAE (GSK) posted net losses of 72.91 million Egyptian Pounds in the first quarter of the fiscal year 2015  2016, compared with EGP 77.24 million for the same period of the previous year, down 5.6%.

The company managed to narrow its losses for Q1-FY15/16 on the increasing sales. During Q1, the company’s sales jumped 27,6% to reach 271.3 million pounds from 212.64 million logged in the same period last year.

The drug producer reported net profits of 69.14 million Pounds for FY15/16, up from 64.11 million pounds for the same period of the previous year.