CIPLA chemicals: New shareholder boosts prospects amid profit reduction
With zero debt and an anticipated cash injection from a new majority shareholder, Cipla Quality Chemicals looks poised to overcome its challenges. Shareholders can expect an additional 5 shillings per dividend for the half-year, with new shareholder Africa Works bringing in new technologies. However, the company's financial statements for the six-month period ending September 30, 2023, reveal a reduction in profit before tax, dropping to UShs 7.2 billion in H1 FY24 from UShs 22.1 billion in H1 FY23.
