Algeria – Saidal reported a net profit of 33 million US$ in 2013

August 7, 2014 10:30 am0 commentsViews: 98

The State-owned SAIDAL pharmaceutical group achieved a net profit of 2.65 billion dinars (33 million USD)  in fiscal year 2013, according to the annual consolidated balance sheet presented in the Ordinary General assembly of shareholders held on June 29, 2014 at the Hilton Hotel.
The pharmaceutical company posted a net profit of 2.65 billion dinars and total assets/net liabilities of 30 billion dinars in fiscal 2013, according to the report published in the press.
The general meeting of shareholders approved the balance sheet of 22.4 billion dinars and a net profit of 1.2 billion, reveals the source.
The General Assembly decided to allocate 400 million dinars Group profit as dividends and 38.8 million dinars for employee participation, 860 million dinars to voluntary reserves and 3.1 million dinars on fees.
Saidal, in 2011 received a development plan from the Government to double production over the next five years and reduce the import bill of drugs. In 2012, Algeria imported pharmaceutical products of USD 2.23 billion, up 13.6% compared to 2011 (1.96 billion dollars)
The government’s goal through this plan was to gradually reduce imports and to arrive in 2014 with a national production of public and private operators covering 70% of the needs, against only 37% currently.
The national rate of drug production achieved by the private sector is 30% and the public sector led by Saidal group is 6%.
SAIDAL is listed on the Algiers Stock Exchange with a capital of 2.5 billion dinars. 80% of the capital is held by the state and remaining 20% were sold in 1999 through the exchange to institutional investors and individuals.

[Source : maghrebemergent]

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