Cairo - Mubasher: Memphis Pharmaceutical and Chemical Industries (MPCI) posted losses of EGP 21.1 million for fiscal year 2016/2017 against profits of EGP 89,000 in the year before, as shown by the company’s financial indicators.

The company said in a statement to the Egyptian Exchange (EGX) on Sunday that turning to losses resulted from a drop in sales, as volumes declined to EGP 248.2 million in FY16/17 down from EGP 353.5 million in FY15/16.