Macro Group saw its net income rise 10% y-o-y to EGP 148 mn in 2021, according to the company’s maiden earnings release (pdf). Revenues grew 38% y-o-y to record EGP 594.3 mn last year. Macro made its EGP 1.3 bn debut on the EGX last month.

The breakdown: The company attributed the rise in revenues to a 23% uptick in average pricing, coupled with a 13% increase in sales volumes. One-time costs associated with the company’s IPO stood at EGP 30.7 mn. “Revenue growth was primarily a result of our ongoing strategy to improve our product mix by selling more high-value SKUs,” said Chairman Ahmed Elnayeb.

Macro acquired Genova Pharma Company in November, Elnayeb wrote. The non-operational company holds registrations for 12 nutraceutical and cosmeceutical products. .

Macro is eyeing a second acquisition, Elnayeb added, without naming the target company or specifying a timeline. The company also plans to launch c. 60 new SKUs in the coming years and expand its presence in high-growth segments such as nutraceuticals and medical devices, while raising prices through direct price hikes, product face-lifts and rebranding.