Medical Packaging’s 2019 profit skyrockets 422%
Updated 5/3/2020 1:23:07 PM
ArabFinance: Medical Packaging Company (MEPA) reported a 422% Year on Year (YoY) increase in its net profit for 2019, according to a May 3rd disclosure filed to the Egyptian Exchange.
Net profit reached EGP 6,157,826 in 2019, compared to EGP 1,179,064 achieved a year earlier.
On April 30th, the company’s board of directors approved an agreement with the National Bank of Egypt to settle the former’s indebtedness, and thus complete the capital raise to be EGP 69 million.
The company posted a net profit of EGP 6,106,460 in the first nine months of 2019, compared to EGP 4,219,466 in the same period a year ago.
Medical Packaging Company is an Egypt-based public shareholding company engaged in the manufacturing of medical and pharmaceutical packaging products. The company is focused on the operations and establishment of a factory for the production of glass containers for the purpose of medical, pharmacy, laboratories, cosmetics, and perfumes, among others.
