Macro Group’s net income is up 19% in 9M 2022 when adjusted for IPO an ESOP expenses, the cosmeceuticals firm said in its earnings release (pdf) out yesterday. Revenues are up 25% year-to-date at EGP 520 mn. Revenue growth was underpinned more by price hikes — which rose by 19% on average — than higher sales volumes, which increased marginally during the nine-month period. The company launched 19 new products between January and September, including nine in the third quarter.

Looking ahead: “Going forward, we will continue to create value through innovative new launches, while capitalizing on the inherent advantage of our product portfolio over imported substitutes amid current market conditions,” Chairman Ahmed El Nayeb said.

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