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Rameda reports profit growth in 2021; board proposes dividends

Rameda reports profit growth in 2021; board proposes dividends

ArabFinanceTenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) (RMDA) posted a consolidated net profit attributable to the parent company of EGP 181.08 million in 2021, according to the company’s financial statements filed to the Egyptian Exchange (EGX).

This marks an increase from the consolidated net profit attributable to the parent company recorded in 2020 of EGP 112.18 million.

The company generated consolidated revenue of EGP 1.24 billion in the full-year ended December 31st 2021, jumping from EGP 960.16 million in 2020.

Meanwhile, Rameda’s standalone net profit after tax rose to EGP 182.20 million last year from EGP 112.94 million in 2020.

Moreover, the company’s board of directors has proposed the distribution of cash dividends worth EGP 9.607 million to shareholders for 2021, according to a separate bourse filing.

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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