Egyptian Amreyah Pharmaceuticals records 24 percent net profit increase
Egypt’s Amreyah Pharmaceuticals recorded a 24 percent net increase for the first nine months of 2003. Earnings reached 57.5 million Egyptian pounds ($9.3 million) from January to September compared to EP 46.2 million during the same period last year.
Amreyah recorded a 10 percent net profit drop in the first six months of 2002. Profits reached EP 25.4 million Egyptian in the first half of the year, compared to EP 28.1 million during the same period in 2001.
Founded in 1984, Amreyah produces and exports 85 types of pharmaceuticals for human and veterinary use. Its shares are 23 percent held by Arab investors, 18 percent by pharmaceutical company Rhone Poulenc, 15 percent by Abd El-Aziz Daghestany, 16.5 percent by CIIC, five percent each by Synthelabo and Alexandria Maritime Bank with the remaining 17.5 percent held by individual stockholders. — (menareport.com)
© 2003 Mena Report (www.menareport.com)