Arab Finance: Memphis Pharmaceutical (MPCI) is expected to achieve a net profit after tax of EGP 50.075 million in fiscal year (FY) 2022/2023, up from recorded EGP 41.8 million in FY 2020/2021, according to the company's budget estimates filed to the Egyptian Exchange (EGX) on June 9th.

The company's FY 2022/2023 also targets operating revenues of EGP 670 million, up from EGP 518.11 million in FY 2020/2021.

It is worth noting that Memphis' net profit after tax amounted to EGP 20.997 million during the nine-month period ended March 31^st, compared to EGP 25.373 million in the same period of FY 2020/2021.

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