Arab Finance: Memphis Pharmaceutical (MPCI) saw a 96% year-on-year (YoY) increase in its net profits after tax during the first quarter (Q1) of fiscal year (FY) 2023/2024, according to the financial indicators filed to the Egyptian Exchange (EGX) on October 29th.

The company recorded a net profit after tax of EGP 24.764 million during the three-month period ended September 30th, up from EGP 12.662 million in the same quarter of FY 2021/2022.

Revenues climbed 21% YoY, hitting EGP 182.651 million, compared to EGP 150.334 million.

Memphis is one of the oldest pharmaceutical and chemical companies in the Middle East and has been in the market since 1940.

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