Rameda’s profits jump by 101.1% in 1H 2022

Rameda’s profits jump by 101.1% in 1H 2022

Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents’ (Rameda) net profit after minority interest grew by 101.1% y-o-y to EGP 124.2m, yielding an NPM of 17.5% — up by 6 percentage points y-o-y in the first half (1H) of 2022.

Expansion in NPM was driven by growing operating profitability coupled with decreasing interest expenses throughout the period.

Consolidated revenues also grew by 32.3% to EGP 711.5m in 1H 2022 driven by strong growth among the group’s core products as well as its recent launches.

The group’s top-performing core products included Colona, Rametax, and Protofix, which was complemented by robust revenues generated by Recoxibright and Vaxato — Rameda’s largest acquisitions to date.

“I am pleased to report that we concluded the first half of the year on a strong note, as we delivered double-digit growth at Rameda’s top and bottom lines while booking margin expansions across the board,” commented CEO of Rameda Amr Morsy.

“Our performance for the period not only reflects the strength of our management and our robust operational capacities, but also our ability to leverage a deep understanding of the Egyptian market, as well as the markets we export to in order to identify attractive opportunities that allow us to generate solid