Alexandria Pharmaceuticals and Chemical Industries Company has reported a remarkable 67.4% surge in profits for the first five months of the fiscal year 2024. This impressive growth, disclosed in a recent statement to the Egyptian Stock Exchange, underscores the company’s robust performance and strategic market maneuvers amidst a dynamic economic landscape.
From July to November 2024, the company achieved a net profit of EGP 181.03 million, a notable increase from the EGP 108.16 million recorded during the same period last year. This growth is complemented by a significant rise in revenues, which reached 1.29 billion pounds, up from 809.98 million pounds in the previous year.
Financial experts attribute this growth to Alexandria Pharmaceuticals’ ability to expand its market reach and enhance operational efficiency. According to Dr. Hossam El-Din, a prominent economist at the Economic Research Forum, “The pharmaceutical sector in Egypt has shown resilience and adaptability, with companies like Alexandria Pharmaceuticals capitalizing on both local and international market demands.”
This trend was also reflected in the company’s earlier performance, with net profits for the first four months (July to October 2024) reaching EGP 139.54 million, up from EGP 83.51 million in the same period last year. Revenues during this period grew to 1.02 billion pounds from 652.92 million pounds, signaling a strong upward trajectory.
Industry insiders speculate that Alexandria Pharmaceuticals is poised for continued growth, backed by strategic investments in research and development. The company has also been focusing on diversifying its product portfolio, which is expected to further bolster its market presence.
