|28 July, 2019

Memphis Pharmaceutical trims losses by 62% in FY18/19

Revenues amounted to EGP 367.7 million in FY18/19

Cairo – Mubasher: Memphis Pharmaceutical and Chemical Industries reported a 61.5% year-on-year decline in its losses during fiscal year 2018/2019.

The company incurred net losses after taxes of EGP 17.97 million in the 12-month period ended 30 June, compared to EGP 46.73 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Year-on-year, revenues amounted to EGP 367.7 million in FY18/19 from EGP 343.3 million.

The company attributed the FY18/19 loss drop to higher sales and production as well as spending rationalisation.

During the first eleven months of FY18/19, the company’s losses slid to EGP 16.31 million from EGP 37.57 million in the corresponding period a year earlier.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Markets