Arab Finance: The Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) (RMDA) reported a 6.87% year-on-year decline in consolidated net profit excluding minority interest for the first half (H1) of 2023, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on August 15th.

Consolidated net profit excluding minority interest hit EGP 115.674 million in H1 2023, compared to a profit of EGP 124.204 million in the same half of 2022.

Revenues rose to EGP 842.433 million during the January-June period of 2023 from EGP 711.499 million during the first six months of 2022.

Meanwhile, the company’s standalone net profit after tax stood at EGP 113.443 million in the six-month period ended June 30th, down from EGP 125.239 million in H1 2022.

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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