Arab Finance: Memphis Pharmaceutical and Chemical Industries reported a 19% year-on-year (YoY) increase in net profits after tax in the fiscal year (FY) 2022/2023, according to the firm’s unaudited income statement released on August 1st.
Net profits amounted to EGP 87.835 million in FY 2022/2023, up from EGP 74.087 in the prior FY.
Likewise, revenues went up 21% YoY from EGP 664.887 million to EGP 551.262 million in FY 2021/2022.
Memphis is one of the oldest pharmaceutical and chemical companies in the Middle East and has been in the market since 1940.