Rameda’s consolidated profit rise 2.74% YoY in H1
Updated 8/13/2024 10:27:00 AM
Arab Finance: The Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) reported a 2.74% year-on-year decline in consolidated net profit excluding minority interest for the first half (H1) of 2024, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on August 13th.
Consolidated net profit excluding minority interest hit EGP 118.844 million in H1 2024, compared to a profit of EGP 115.674 million in the same half of 2023.
Revenues rose to EGP 1.021 billion during the January-June period of 2024 from EGP 842.433 million during the first six months of 2023.
Meanwhile, the company’s standalone net profit after tax stood at EGP 111.745 million in the six-month period ended June 30th, up from EGP 113.443 million in H1 2023.
Rameda is an Egypt-based pharmaceutical company that manufactures both human and veterinary pharmaceuticals.
It operates three fully independent factories at its plant, including 20 production lines capable of producing a wide range of general medicinal forms, namely eye drops, solid dosage forms, syrups, blow-fill-seal, and lyophilized vials, among others.
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