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Memphis Pharmaceutical's profits fall 17% in 9 months

Memphis Pharmaceutical's profits fall 17% in 9 months

ArabFinanceMemphis Pharmaceutical (MPCI) has reported a 17% year-on-year (YoY) decline in profits for the first nine months of fiscal year (FY) 2021/2022, according to financial indicators filed to the Egyptian Exchange (EGX) on April 27th.

The company's net profit after tax amounted to EGP 20.997 million during the nine-month period ended March 31st, compared to EGP 25.373 million in the same period of FY 2020/2021.

Revenue rose 3% YoY to EGP 406.512 million in the period ended March 31st from EGP 25.37 million.

Memphis is one of the oldest pharmaceutical and chemical companies in the Middle East and has been in the market since 1940.

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