Memphis Pharmaceutical’s profit hikes 480%
Updated 3/24/2021 10:58:00 AM
ArabFinance: Memphis Pharmaceutical (MPCI) posted a 480% Year on Year soar in its net profit before tax during the period ended February 28th, according to a filing to the Egyptian Exchange on March 24th.
The company achieved a net profit of EGP 23.73 million by the end of February 2021, compared to EGP 4 million in February 2020.
The company’s revenues increased to EGP 360.32 million last month, compared to EGP 334.27 million in February 2020.
On a yearly basis, exports value grew by 464% to EGP 20.62 million by February-end, compared to EGP 13.45 million in the same period of 2020.
Memphis pharmaceutical posted a net profit of EGP 18.816 million in July-December 2020, compared to EGP 3.340 million achieved in the prior-year period.
Memphis is one of the oldest pharmaceutical and chemical companies in the Middle East and has been in the market since 1940.
