Cairo – Mubasher: Egypt-based Memphis Pharmaceutical and Chemical Industries (MPCI) turned to losses year-on-year during the first five months of the fiscal year 2017/2018.

The company’s losses amounted to EGP 14.9 million from July until November of the FY 2017/2018, against profits of EGP 57,000 in the year-ago period, according to a statement to the Egyptian Exchange (EGX).

Year-on-year, the firm’s revenues increased to EGP 151.4 million, from EGP 134 million.

Memphis Pharmaceutical and Chemical Industries incurred EGP 7.8 million losses during the third quarter of 2017, against EGP 123,000 profits in the corresponding period a year ago. 

The company’s sales rose to EGP 78.42 million in Q1 of the current fiscal year, from EGP 70.4 million in the same period in the year before.