Memphis Pharmaceutical and Chemical Industries has reported a 374.5% annual surge in its net profits after tax in the first nine months of the fiscal year (FY) 2023/2024, according to the firm’s unaudited income statement released on April 29th.

The company logged EGP 166.368 million in net profits after tax in the nine months to March 31st, 2024, up from EGP 35.060 million during the same period of FY 2022/2023.

Meanwhile, Memphis earned revenues of EGP 664.577 million during the period from July 2023 to March 2024, signaling a 50.9% year-on-year (YoY) increase from EGP 440.465 million over the same period of the FY before.

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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