Ibnsina Pharma’s net income dropped 45.2% y-o-y to EGP 172.6 mn in 2022, according to the company’s earnings release (pdf). Revenues, meanwhile, inched up 2.4% to EGP 22.3 bn, driven by increases in the average selling price. On a 4Q basis, net income dipped 26.7% to EGP 53.2 mn, while revenues rose 7.9% to EGP 6.5 bn.

The EGX30 fell 1.6% at today’s close on turnover of EGP 2.1 bn (4.1% above the 90-day average). Foreign investors were net sellers. The index is up 15.4% YTD.

In the green: AMOC (+2.2%), Oriental Weavers (+2.2%) and Rameda Pharma (+1.7%).

In the red: Eastern Company (-4.7%), Fawry (-4.1%) and Credit Agricole Egypt (-2.7%).

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