Arab Drug posts 108% YoY profit surge in FY2022/23
Updated 7/31/2023 10:47:00 AM
Arab Finance: Arab Drug Company (ADCI) reported a 108% year-on-year (YoY) hike in net profit after tax for the fiscal year (FY) 2022/2023, according to the financial indicators filed to the Egyptian Exchange (EGX) on July 31st.
Net profits after tax recorded EGP 82.532 million in FY 2022/2023, up from EGP 76.30 million in the previous FY.
Revenues saw a 125% annual growth of EGP 633.722 million in FY 2022/2023, compared to EGP 505.039 million a year earlier.
In related news, the company announced its estimated budget for FY 2023/2024, with expected net profits of EGP 110.301 million.
The company is also targeting revenues of EGP 856.324 million.
Arab Drug is an Egypt-based company engaged in the pharmaceutical sector. The company focuses on the manufacture, packaging, and distribution of pharmaceutical products as well as chemical solutions for human and veterinary use.
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