Cairo – Mubasher: The board of directors of Kahira Pharmaceuticals approved the planned budget for fiscal year 2021/2022.
The company aims to achieve profits of EGP 145.08 million in the coming fiscal year, compared to an expected profit of EGP 122.87 million in FY20/21, according to a bourse disclosure on Tuesday.
The pharmaceutical company also targets EGP 1.2 billion in revenue in FY21/22, up from a projected revenue of EGP 1.15 billion by the end of the current fiscal year.
The proposed investments, which amount to EGP 37.76 million in the coming fiscal year, will be self-financed.
The company prepared its budget based on a US dollar price of EGP 15.758, a EUR price of EGP 19.359, and a GBP price of EGP 21.42.
During the first six months of FY20/21, the company achieved net profits of EGP 67 million, up from EGP 56.77 million in the prior-year period.
Sales increased to EGP 532.24 million in the July-December period of 2020, compared to EGP 513.16 million in the corresponding period a year earlier.
