The Clap
Ibnsina Pharma (ISPH) recorded a 1.4% YoY increase in revenues, reaching EGP 10.261 billion in H1 2022, while profits also increased by 0.9%, reaching EGP 768 million.
The Deets
Ibnsina Pharma kept an almost stable revenue and profit level in comparison to H1 2021. They attributed the small increase in revenues and profit to the increase in interest rates, the devaluation of the EGP, as well as the rising costs due to inflation.
To combat these obstacles, the company took precautions by reducing the credit limit of some clients and getting more guarantees.
A Better H2?
The company stated that they are confident of overcoming these obstacles and producing a much stronger performance in H2 2022.
Ibnsina Pharma reports modest earnings for H1 2022 💊
