Rameda’s consolidated profits inch down 0.3% YoY in 2023
Updated 3/19/2024 10:50:00 AM
Arab Finance: The Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) posted a 0.3% year-on-year (YoY) downtick in consolidated profits attributable to the parent company in 2023 to EGP 244.859 million, versus EGP 245.676 million, a statement showed.
However, revenues jumped to EGP 1.922 billion last year from EGP 1.484 billion in the prior year.
Rameda’s standalone net profits after tax slipped to EGP 234.456 million in 2023, compared to EGP 234.645 million in 2022.
Meanwhile, standalone revenues came in at EGP 1.914 billion, up from EGP 1.466 billion.
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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