Egypt’s Nile Pharmaceuticals reported net profits of 27.3 million Egyptian pounds ($4.4 million) for fiscal year 2002/2003, a 23 percent drop compared to figures from the previous year.
Revenue remained stable at EP 251 million while cost of goods sold (COGS)/revenue increased from 76 percent to 79 percent. This led to a 12 percent drop in gross profit reaching EP 53.2 million, reported Sigma.
Cairo-based Nile Pharmaceuticals manufactures and trades pharmaceutical products for human and veterinary use, while specializing in the production of lyophilized parentrals, effervescent granules and medicinal cosmetics. The company employs over 2,500 workers and exports its products to Arab and African countries. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
