Egypt: Arab Drug Company's profits grow 99.6% YoY in 9 months
Arab Finance: Arab Drug Company's (ADCI) net profits after tax jumped 99.59% year on year (YoY) in the first nine months of the fiscal year (FY) 2024/2025, according to the company's financial statement.
Net profits after tax recorded EGP 164.674 million from July to March of the current FY, up from EGP 82.504 million in the same period of the previous FY.
Meanwhile, total operating revenues grew to EGP 819.145 million from EGP 581.211 million.
Arab Drug is an Egypt-based company engaged in the pharmaceutical sector. The company focuses on the manufacture, packaging, and distribution of pharmaceutical products as well as chemical solutions for human and veterinary use.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Business
2 days ago
- Gulf Business
Abu Dhabi: ADGM assets under management show 33% YoY rise in Q1
Image: ADGM Abu Dhabi Global Market (ADGM) has recorded a strong start to 2025, posting significant year-on-year growth across its ecosystem in Q1, as investor confidence and international interest in the UAE capital's financial centre remain high. Backed by major regulatory developments, global engagement and jurisdictional expansion, 'ADGM's Q1 2025 performance marks the beginning of another landmark year,' said Ahmed Jasim Al Zaabi, chairman of ADGM. 'This is not just a reflection of ADGM's capabilities to deliver sustained growth, but also the trust it has gained among global and regional institutions. 'ADGM continues to expand and diversify with purpose, welcoming leading firms, deepening international partnerships, and driving digital and sustainable transformation across sectors.' At a glance: ADGM's key growth areas in Q1 Assets under management (AUM): AUM grew 33 per cent from Q1 2024. A total of 119 fund and asset managers now manage 184 funds. Licences: The number of new licences issued increased by 67 per cent year-on-year. Entities: Operational entities surged 43 per cent to 2,781. Financial services entities rose 26 per cent to 367. Workforce: More than 29,000 people are now employed on Al Maryah Island, up 17 per cent from the previous year. Work permits: 3,509 new work permits were issued for businesses establishing on Al Reem Island. Expanded international presence and strategic engagements In January, an ADGM delegation attended iConnections Global Alts in Miami, held bilateral meetings in New York and Washington, and joined a panel titled 'Abu Dhabi: The Capital of Capital'. In February, ADGM participated in a high-level UAE-China delegation led by ADDED, supporting efforts to deepen bilateral economic ties. In April, ADGM conducted nearly 30 strategic meetings in Japan with institutions focused on private banking, wealth management and family businesses. Al Reem Island integration and new incentives More than 600 new businesses established on Al Reem Island and 500 existing firms migrated to ADGM licensing during Q1. ADGM revised its fee structure in January, slashing commercial licence fees by 50 per cent or more for non-financial and retail businesses. A flat licence fee of Dhs1,000 was introduced to boost SME access. Digital and blockchain developments In March, ADGM signed an MoU with Chainlink to enable compliant tokenisation frameworks. Stacks Asia and Bitgrit joined ADGM under its DLT Foundations framework. ADGM launched an all-in-one mobile app offering compliance tools, licence renewals and regulatory updates. A new digital real estate platform was introduced, enabling fully virtual sale and purchase transactions. Read: Focus on sustainable finance The Abu Dhabi Sustainable Finance Declaration reached 170 signatories, including Aquila Capital, Century Financial, Oryx Global Partners, PwC and Olive Gaea. The initiative continues to promote ESG integration in the region's financial sector. Human capital and UAE National empowerment ADGM Academy created 800 job placements for UAE Nationals across nine career tracks. Signed strategic MoUs with Arab Youth and the Federal Tax Authority to support upskilling in technology and finance. Published six research papers on the impact of AI in the UAE financial sector via the ADGMA Research Centre. As the financial centre continues its expansion and regulatory innovation, it expects further growth in 2025, particularly from financial markets in Europe and Asia.
Zawya
3 days ago
- Zawya
US trade deficit narrows sharply in April; imports post record drop
The U.S. trade deficit narrowed sharply in April, with imports decreasing by the most on record as the front-running of goods ahead of tariffs ebbed, which could provide a lift to economic growth this quarter. The trade gap contracted by a record 55.5% to $61.6 billion, the lowest level since September 2023, the Commerce Department's Bureau of Economic Analysis said on Thursday. Data for March was revised to show the trade deficit having widened to an all-time high of $138.3 billion rather than the previously reported $140.5 billion. Economists polled by Reuters forecast the deficit narrowing to $70.0 billion. The goods trade deficit eased by a record 46.2% to $87.4 billion, the lowest level since October 2023. A rush to beat import duties helped to widen the trade deficit in the first quarter, which accounted for a large part of the 0.2% annualized rate of decline in gross domestic product last quarter. The contraction in the deficit, at face value, suggests that trade could significantly add to GDP this quarter, but much would depend on the state of inventories. Imports decreased by a record 16.3% to $351.0 billion in April. Goods imports slumped by a record 19.9% to $277.9 billion. They were held down by a $33.0 billion decline in imports of consumer goods, mostly pharmaceutical preparations from Ireland. Imports of cellphones and other household goods fell $3.5 billion. Imports of industrial supplies and materials declined $23.3 billion, reflecting decreases in finished metal shapes and other precious metals. Motor vehicle, parts and engines imports fell $8.3 billion with passenger cars accounting for much of the decline. The front-loading of imports is probably not over. Higher duties for most countries have been postponed until July, while those for Chinese goods have been delayed until mid-August. President Donald Trump's administration had given U.S. trade partners until Wednesday to make their "best offers" to avoid other punishing import levies from taking effect in early July. Imports from Canada were the lowest since May 2021, while those from China were the lowest since March 2020. But imports from Vietnam and Taiwan were the highest on record. Exports rose 3.0% to $289.4 billion, an all-time high. Goods exports increased 3.4% to a record $190.5 billion. They were boosted by a $10.4 billion jump in industrial supplies and materials, mostly finished metal shapes, nonmonetary gold and crude oil. Capital goods exports advanced $1.0 billion, lifted by computers. But exports of motor vehicles, parts and engines fell $3.3 billion, held down by passenger cars as well as trucks, buses and special purpose vehicles. Exports of services increased $2.1 billion to $98.9 billion, lifted by travel, despite reports of decreased tourist visits because of the trade tensions and an immigration crackdown. The United States had record goods trade surpluses with Hong Kong, the United Kingdom and Switzerland. But it had record deficits with Vietnam, Taiwan and Thailand, while the gap with Canada was the smallest since April 2021. (Reporting by Lucia Mutikani; Editing by Andrea Ricci)
Khaleej Times
3 days ago
- Khaleej Times
Eid Al Adha 2025: Emotional commerce and seasonal trends boost 45% online sales growth in Mena
Eid Al Adha 2025 is expected to deliver a 45 per cent boost in mobile sales across the Middle East and North Africa (Mena) e-commerce market and 150 per cent growth in gifting purchases, data showed, driven by a rise in emotionAl first commerce and seasonal trends. Research by Flowwow, a UAE-based gifting marketplace, and Admitad, a leading affiliate marketing platform, projects a growth of 15 per cent in gross merchandise volume (GMV) orders growth in e-commerce research ahead of Eid Al Adha 2025, one of the region's key retail moments. The growth in online orders, sales GMV, and average order value during Eid Al Adha highlights a digital shift from traditional mall retail to fast and tech-enabled online shopping. In the changing e-commerce sector, super apps and marketplaces compete to meet the increasingly sophisticated demands of digital consumers. The region's rich culture of gifting, combined with its multinational population and rising income levels, continues to boost the rapid growth of online gifting in the GCC, making it the fastest-growing $1.8 billion market in this space, projected to reach $6.38 billion by 2030. The study, which analysed over 150,000 customer orders during the Eid Al Adha period 2024–2025, shows rising consumer demand for seasonal gifts and emotionally driven purchasing decisions. The analytics forecast a shift toward higher-value purchases, and strong mobile commerce growth, trends expected to continue into 2025 with projected 10 per cent order growth and mobile sales exceeding 45 per cent across the Mena region. Eid Al Adha is one of the biggest shopping seasons of the year in the Mena region, driven by traditions of generosity, gifting, and festive preparation. Looking ahead to Eid Al Adha 2025, Analysts project the number of e-commerce orders in the region to increase by 10 per cent, with GMV expected to grow by 14-15 per cent during the holiday, boosted by rising average household incomes and a growing shift toward digital shopping. Mobile commerce was a key driver of growth, with 47 per cent of online orders in the UAE and over 50 per cent in Saudi Arabia made via mobile devices. Across Mena, mobile purchases rose to 41.5 per cent, up from 38 per cent last year, showing the ongoing shift to mobile-first shopping. During the five-day holiday window in 2024, online orders in the Mena region increased by 5 per cent compared to non-holiday periods, while gross merchandise value (GMV) grew by 14 per cent. The average order value (AOV) rose from $37 to $40, an 8 per cent increase, showing a shift toward higher-value purchases. The UAE and Saudi Arabia, along with Kuwait, Qatar, and Jordan, stood out as some of the top-performing markets, with Saudi consumers posting an AOV of $62 and UAE shoppers close behind at $61. The gifting sector is following this growing trend: Flowwow gifting marketplace recorded a significant surge in sales during Eid Al Adha 2024 in the UAE, with GMV rising by 472 per cent year-over-year, marking a 5.72x performance increase compared to the previous year. This growth was accompanied by a 413 per cent rise in the number of transactions during the Eid period, showing growing customer engagement and stronger market demand during the holiday. The average order value for Eid Al Adha gifts also saw an improvement, reaching Dh354.28 ($96.46) – an increase of 19.9 per cent in UAE dirham terms and 20.3 per cent in US dollar terms, proving the demand for high-quality gifts. Moreover, the share of repeat gift purchases reached 71.8 per cent, reflecting growing customer loyalty. Consumer gifting preferences across the Mena region varied, reflecting both cultural nuances and national purchasing habits. In Saudi Arabia, electronics led the category chart, comprising 25.2 per cent of total orders, followed by home goods (15.5 per cent) and fashion (14.6 per cent). Automotive products, including spare parts and motorcycle gear, were particularly popular in the kingdom, accounting for 12.2 per cent of purchases. In the UAE, home goods took the top spot at 23.4 per cent, followed closely by electronics (21.7 per cent), accessories such as bags and jewellery (18.6 per cent), and fashion (17.5 per cent). 'During Eid Al Adha, we saw strong consumer interest in electronics, home goods, and fashion across both the UAE and Saudi Arabia, making these key categories for seasonal campaigns. At the same time, gifting segments like accessories, toys, and beauty continue to perform well, reflecting how central the tradition of gift-giving is to the holiday experience,' said Anna Gidirim, CEO of Admitad. During the Eid Al Adha period, marketplace data indicates that peony sales in the UAE increased by 151 per cent during the June holiday week, positioning peony bouquets among the top 10 best-selling gift items. This data aligns with 2024 market findings, with the UAE flower market saw a remarkable 200 per cent surge in peony sales over the summer and over 4,300 units sold last year. This trend shows how the timing of Eid Al Adha and the short peony season came together to drive a surge in demand. Among other popular gifting categories during the Eid Al Adha holiday on Flowwow were flowers (72 per cent), followed by hamper boxes (15 per cent), sweets and bakeries (9 per cent), and balloons and edible bouquets (2 per cent each). One of the main drivers of these on-occasion and non-occasion shopping trends and gifting market growth is the rise of emotional and social commerce. Emotion strongly influences consumer behaviour in the Mena region: a Google study shows that shoppers often rely on emotional triggers to make purchase decisions, while another research found that marketing campaign designed to foster emotional connection can lead to a 70 per cent increase in product usage and sales. In response, brands are moving away from transactional 'buy-now' messaging toward emotionally driven campaigns rooted in cultural values and storytelling. During Eid, influencer content and behind-the-scenes narratives on platforms like Instagram, TikTok, and Snapchat enhance the emotional impact of gifting. A TikTok and Ipsos study found that 61 per cent of users find TikTok more entertaining during Eid, with many discovering and trying new products through storytelling content. This emotional connection drives a shift away from generic presents toward meaningful, experience-based gifts, making social and emotional commerce a key driver of visibility and cultural relevance. 'We've seen how emotional commerce drives market activity during Eid Al Adha. This holiday, with its focus on generosity and connection, offers a key opportunity to engage with the audience through emotionally resonant messaging. People choose gifts that express real care and connection, making Eid a truly meaningful time for sharing and celebration,' Slava Bogdan, CEO of Flowwow, commented.
