Arab Finance: Memphis Pharmaceutical (MPCI) saw a 201% year-on-year (YoY) surge in its net profits after tax during the first half (H1) of fiscal year (FY) 2023/2024, according to the financial indicators filed to the Egyptian Exchange (EGX) on January 30th.
The company recorded a net profit after tax of EGP 82.887 million during the six-month period ended December 31st, up from EGP 27.558 million in the same period of 2022.
Revenues climbed 42% YoY, hitting EGP 429.788 million, compared to EGP 302.647 million.
Memphis is one of the oldest pharmaceutical and chemical companies in the Middle East and has been in the market since 1940.