Holdipharma targets revenues of EGP 260m in coming fiscal year

Daily News Egypt
1 Min Read

Holdipharma plans to achieve revenues of EGP 260m in the coming fiscal year, 7.5% up from 2015/2016.
“We are aiming to achieve a net profit of EGP 145m, up by 11.5% from 2015/2016,” said Holdipharma company chair, Mohamed Wanis.

The general assembly of Holdipharma has approved the company’s estimated budget for the upcoming fiscal year 2017/2018. The company’s subsidiaries plan to achieve revenues of EGP 16bn, which is 47.8% up from 2015/2016. The target net profit is also set at EGP 296m, up by 77.2%.

Minister of Public Sector Affairs, Ashraf El Sharkawy, called for Holdipharma to establish a system to manage follow up on the registration of products, the development of costing systems that provide decision-making data, and the preparation of a unified guide for the procurement work. The system’s purpose, to obtain the production inputs at the lowest possible cost. He also highlighted the need to increase exports to foreign markets, diversify expertise, and bring new blood onto the board of directors of subsidiaries.

El Sharkaway stressed the need to benefit from the assets of the unutilized companies, especially with the pharmaceutical subsidiaries, as their products’ prices are lower compared to other companies.

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