Cairo Pharmaceuticals and Chemicals Industries (CPCI.CA) said it posted a net profit of EGP 36.955 million during the first half of 2012, 17.9% less than a year earlier net profit of EGP 45.009 million.

Sales for H1/2012 fell by 2.25%. Gross profit, after excluding the cost of sales, hit EGP 64.192 million in H1/2012, compared to EGP 69.509 million in H1/2011.

Basic earnings per share through H1/2012 reached EGP 1.70, compared to EGP 2 a year earlier.

Working capital rose 18.9% to EGP 313.999 million during H1/2012, compared to EGP 264.059 million. Shareholders’ equity rose 11.16% to EGP 368.029 million, compared to EGP 331.074 million.