MPCI targets L.E6.2 million Profits by FY 2012/2013

Memphis Co. for Pharmaceutical and Chemical Industries (MPCI) is targeting achieving net profits worth L.E6.2 million during the fiscal year 2012/2013, compared to L.E5.5 million achieved during 2010/2011.

MPCI’s budgeting has unveiled the value of the targeted investments for the fiscal year 2012/2013 as it reaches L.E15.5 million.

Additionally, the company intends to hold a meeting for the Ordinary General Assembly on Tuesday March 20th, 2012 so as to look on the approval of the MPCI’s budgeting draft for the fiscal year 2012/2013 and of donation value so as not to exceed L.E30 thousand. In case of exceeding the amount of L.E30 thousand, the approval of HoldiPharma’s Chairman would be needed.

The Assembly is going also to discuss the allocation of L.E16.295 million from the company’s reserves so as to supply the expenses, excluding the depreciation list, for the fiscal year ended on June 30th, 2012.

Memphis Company is one of the companies of the drug holding company in Egypt. Memphis Company is considered one of the oldest pharmaceutical and chemical companies in the Middle East since 1940. One of its most important activities has been the study of the Egyptian Medical plants, extraction of their active principles and the implementation of a full scale plan of chemical, pharmacological and clinical investigations in which many professors took part.