GlaxoSmithKline Records Standalone Financial Results With a 376% Surge In Consolidated Profits
GlaxoSmithKline (GSK Egypt) witnessed 376% higher consolidated net profits after tax at EGP 735 million in 2022, compared to EGP 155 million in 2021.
The revenues hit EGP 1.81 billion during the period from January to December 2022, up 79% year-on-year (YoY) from EGP 1.01 billion, according to the income statements.
Basic and diluted earnings per share (EPS) hiked by 381% to EGP 8 in 2022 from EGP 2 a year earlier.
The EGX-listed firm recorded standalone net profits after tax worth EGP 718 million last year, higher by 332% than EGP 166 million as of 31 December 2021.
Non-consolidated revenues surged by 79% YoY to EGP 1.18 billion in 2022 from EGP 1.01 billion, while the basic and diluted EPS jumped by 308% YoY to EGP 7 from EGP 2 billion.
The board members agreed to pay out a cash dividend of EGP 0.75 per share for 2022.
Meanwhile, the dividends proposal is subject to the approval of the ordinary general meeting (OGM).
In the first nine months (9M) of 2022, GSK Egypt generated consolidated net profits worth EGP 920.72 million, compared to EGP 70.11 million in 9M-21.
