Cairo Pharmaceuticals and Chemical Industries (CPCI) released its results for the first half of the financial year 2001 ending June, in which net income increased 8.3 percent to 33.5 Egyptian pounds million ($7.86 million) from LE31.0 million in the comparable period of FY2000, according to Prime Securities.
The profits rise was mainly attributed to a four-fold growth in net extraordinary revenues reaching three million LE. A one percent increase in net sales was recorded at LE170.8 million compared to LE169.0 million in the same period last year.
Revenues inched up one percent to LE17.1 million from LE16.9 million in FY2000 figures. Total expenses increased four percent to reach LE19.05 million, and income tax increased nine percent to reach LE8.15 million.
CPCI is scheduled to hold its ordinary general assembly in mid-September, to approve FY2001 results and the suggested distribution of LE7.17/share. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
