Memphis Pharmaceutical profits fall 49%
Updated 1/26/2022 12:02:00 PM
ArabFinance: Memphis Pharmaceutical (MPCI) announced that its board of directors has approved the company’s unaudited financials for the period ended December 31st, 2021, according to the company’s statement to the Egyptian Exchange (EGX).
The company’s profits declined 49% by the end of December 2021, recording EGP 9.5 million, compared to EGP 18.8 million in the same period of 2020.
According to the statement, the board has also approved raising the company’s issued and paid-up capital to EGP 241.25 million from EGP 56.25 million.
Memphis is one of the oldest pharmaceutical and chemical companies in the Middle East and has been in the market since 1940.
