Egypt’s Arab Drugs trounces expectations, profits jump by 1235%

Egypt-based Arab Drug reported net profits before tax for the fourth quarter of financial year 2015/16 jumped by 1235 percent year-over-year to 2.67 million Egyptian pounds ($300,675) from 200,000 pounds.

Annually, net earnings before taxes reached 5.85 million pounds, compared to 4.67 million pounds a year earlier.

By the end of June 2016, sales stood at 249.28 million pounds versus 233.89 million pounds in 2014/15.

In the first nine months, the company registered 3.18 million pounds in profits, compared with 4.47 million pounds for the year-ago period.