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Memphis Pharmaceutical reports profit of EGP 4.4M

Memphis Pharmaceutical reports profit of EGP 4.4M

ArabFinance: Memphis Pharmaceutical (MPCI) turned to profit in the financial period ending February, reporting EPG 4.35 net profit compared to incurring a net loss of EGP 16.5 million.

On March 22nd, the board of directors ratified the financial results for the period ending February.

The company posted a net profit of EGP EGP 3.34 million in H1 of the Fiscal Year (FY) 2019/2020, versus losses of EGP 18.057 million in the same period a year earlier.

Memphis Company is one of the companies of the drug holding company in Egypt. Memphis Company is considered one of the oldest pharmaceutical and chemical companies in the Middle East since 1940. Since then Memphis chemical co. has always tried to work hardly and produce most needed specialties products.

One of its most important activities has been the study of the Egyptian Medical plants, extraction of their active principles and the implementation of a full scale plan of chemical, pharmacological and clinical investigations in which many professors took part and international patents have been accredited as a result to these researches.

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