Memphis Pharmaceutical’s profits soar 188% in 6 months

Memphis Pharmaceutical’s (MPCI) profits after tax amounted to EGP 27.56 million in the six-month period ended December 31st, 2022, up by 188% year-on-year (YoY) from EGP 9.59 million, according to the financial income statement filed to the Egyptian Exchange (EGX) on January 30th.

Sales saw an 18% hike in the July-December period of 2022 to EGP 302.65 million, compared to EGP 257.23 million in the year-ago period.

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