Arab Finance: Memphis Pharmaceutical and Chemical Industries has reported a 67% annual surge in its net profits after tax in the first nine months of fiscal year (FY) 2022/2023, according to the firm’s unaudited income statement released on April 30^th.

The company logged EGP 35.06 million in net profits after tax in the nine months to March 31^st, 2023, up from EGP 20.997 million during the same period of FY 2021/2022.

Meanwhile, Memphis earned revenues of EGP 440.465 million during the period from July 2022 to March 2023, signaling an 8.4% year-on-year (YoY) increase from EGP 406.512 million over the same period of the FY before.

Memphis is one of the oldest pharmaceutical and chemical companies in the Middle East and has been in the market since 1940.

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