ICEC

Egypt’s Memphis Pharmaceuticals turns into H1-FY2017/18 losses, achieving 14.8mn pounds

Egypt’s Memphis Pharmaceuticals and Chemical Industries (MPCI) said Sunday it turned into losses, reaching 18.4 million Egyptian pounds ($1 million) during the first half of financial year 2017/2018.

The firm, an affiliate of Holding Company for Pharmaceuticals (Holdipharma), earlier achieved profits stood at 2.4 million pounds during the first half of financial year 2016/2017.

Memphis incurred losses to 7.8 million pounds during the three months ended in September 2017, compared with 123,000 during the same period in 2016.

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