Arab Finance: Memphis Pharmaceutical and Chemical Industries’ board has approved the estimated budget for the fiscal year (FY) 2023/2024 with expected net profits after tax of EGP 104.200 million, according to a filing on July 19th.
The company is also targeting revenues of EGP 816 million.
It is worth noting that the company has reported a 67% annual surge in its net profits after tax in the first nine months of FY 2022/2023.
Memphis is one of the oldest pharmaceutical and chemical companies in the Middle East and has been in the market since 1940.