EARNINGS WATCH- Ibnsina Pharma posted annual net profits of EGP 328.77 bn in 2019, a 25.24% y-o-y increase from the same period in 2018, according to a regulatory filing (pdf). The profit increase was driven by revenues rising 24.6% y-o-y to reach EGP 16.6 bn during the year. The company’ said it grew its market share to 21.3% in 2019, up from 20.5% in 2018 on the back of growth of its client base. The company’s board of directors has proposed a cash dividend of EGP 0.07 per and the distribution of dividend shares of 0.17 new shares for every existing share held. Ibnsina’s plans going forward include the opening of new distribution centers.

Tags: