Cairo – Mubasher: Memphis Pharmaceutical and Chemical Industries plans to achieve net profits before tax worth EGP 50 million in fiscal year (FY) 2022/2023, compared to its target of EGP 43 million for FY21/22.

The company generated EGP 41.65 million in net profit before tax during FY20/21, according to a bourse filing on Thursday.

Last January, the board of Memphis Pharmaceutical approved to increase its issued and paid-up capital to EGP 241.25 million from EGP 56.25 million.