ArabFinance:  Alexandria Company for Pharmaceuticals and Chemical Industries’ (Alex Pharma)(AXPH) board of directors approved the estimated budget for fiscal year (FY) 2021/2022, according to the company’s filing to the Egyptian Exchange.

The company targets achieving a net profit of EGP 129 million during FY 2021/2022, compared to a target of EGP 208 million in FY 2020/2021.

The listed company targets EGP 1.22 billion in revenue in FY 2021/2022, compared to a target of EGP 1.44 billion in the prior fiscal year.

It is worth noting that the listed company reported a 26.06% year-on-year drop in net profit after tax for the first quarter (Q1) of fiscal year (FY) 2021/2022, recording EGP 33.23 million.

Alex Pharma, a subsidiary of Drug Holding Company, is an Egypt-based company engaged in the manufacture, development, and marketing of pharmaceutical, chemical, veterinary, and nutritional food products, as well as medical appliances.