EGP stock photo (3) - Egypt Today
CAIRO – 12 June 2018: The preliminary indicators of Memphis Pharmaceutical and Chemical Industries (MPCI) revealed a 799 percent increase in its loss during 11 months ending in May 2018.
A filing to the Egyptian Exchange (EGX) showed that the company recorded a loss of LE 38.3 million in 11 months ending in May 2018, compared to a loss of LE 4.26 million in the same period in 2016/2017.
The board of directors approved the results as well as the re-contract with Santa Maria Hospital in Assiut.
They also agreed upon developing el-Akima zone with a self-finance in the company’s favor, in addition to contracting with Dar el-Shifaa Hospital according to the prices of the therapeutic institution.
In the period from July 2017 until March 2018, the company turned into loss, recording a loss of LE 30.3 million, compared to a profit of LE 2.2 million in the same period of the previous year.
Established in 1991, Memphis Pharmaceutical and Chemical Industries operates within the pharmaceuticals, biotechnology & life sciences sector focusing on pharmaceuticals. It has two subsidiaries operating across Egypt, working on health care supplies and pharmaceuticals.
It has been listed on the Egyptian Exchange since September 1995.
The company’s capital is LE 56.25 million distributed over 5.6 million shares with a nominal value of LE 10 per share.
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