Ibnsina Pharma is currently studying several investment and acquisition opportunities in the healthcare and logistics sectors, sources close to the company told Daily News Egypt.
One of these deals will take place within two months, and it will be in the hospital sector, through its investment arm AIM.
Ibnsina injected about EGP 120m in AIM to reinvest it in its subsidiaries, Ramp Logistics and Digi 360, as well as another company in the field of healthcare.
The company’s consolidated net revenues rose during the first half of this year to record EGP 10.26bn, compared to EGP 10.12bn during the first half of 2021.
The company’s consolidated net profit during the period scored about EGP 87.7m, down from EGP 104.75m a year earlier.
The company said that the second quarter of the year was full of challenges, as interest rates increased and the exchange rate declined, and the company faced inflationary pressures. Despite these challenges, the performance of many of the company’s core sectors was good during the first half of the year.
The company has adopted a number of measures to mitigate any potential credit risks during these challenges, including reducing the credit limit for some customers and obtaining guarantees from others.
The company places on top of its priorities the study of all possible ways to achieve the best rates of growth and profitability through a strategy based on four axes: growth, optimal use of resources, digital transformation, and investment.
The company is working to increase the number of its customers and increase its market share in the sectors in which the company sees an opportunity to grow at an acceptable risk, as well as adopting a set of measures that contribute to improving operational efficiency and rationalizing general and administrative expenses, in addition to suspending new recruitment operations in the company.