Cairo – Mubasher: Alexandria Pharmaceuticals and Chemical Industries aims to increase its profits by 34% year-on-year during fiscal year 2020/2021.

The pharmaceuticals company plans to achieve profits of EGP 196.5 million in the coming fiscal year from a targeted EGP 147 million for FY19/20, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

According to its planned budget for FY20/21, the company is looking to invest a total of EGP 182 million through buildings worth EGP 113 million as well as machinery and equipment valued at EGP 69 million.

It is worth mentioning that during the first half of FY19/20, Alexandria Pharmaceuticals reported net profits of EGP 85.26 million, up from EGP 72.26 million in the year-ago period.