Medical Packaging posts EGP 1.6M in Q1
Updated 6/16/2020 11:21:00 AM
ArabFinance: Medical Packaging Company (MEPA) reported a 128% Year on Year rise in its net profit in Quarter one (Q1) of 2020, according to the company's June 15th financial statements filed to the Egyptian Exchange.
Net profit stood at EGP 1,632,045 in Q1 2020, compared to EGP 714,951 achieved in Q1 2019.
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.
Medical Packaging is an Egypt-based public shareholding company engaged in the manufacturing of medical and pharmaceutical packaging products. It 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.
