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Memphis Pharmaceuticals' BoD nods surplus of LE5 m in FY16/17

Memphis Pharmaceuticals' BoD nods surplus of LE5 m in FY16/17

Arab Finance: Memphis Pharmaceuticals (MPCI) Board of Directors was convened on June 28.

BoD approved budget of 2016/2017, which revealed aiming to post revenues of LE366 million as well as surplus of LE5 million pretaxes.

Moreover, BoD ratified the request submitted by Al Borg Labs on the continuation of the contract according to price of 2010 starting from JUly 2016.

It is worth mentioning; BoD approved scrapping some fixed assets as the company doesn't need it.

Source: EGX & Arab Finance editor

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