MUP Showing a Slight Increase in Net Profits

MUP - Medical Union for Pharmaceuticals SAE, operating under the investment law and capitalized at L.E. 313.4 million, fully paid up, has posted for the year 2011 about L.E. 213.6 million net profits before taxes on L.E. 850.7 million net sales among other revenues.

Figures compare with L.E. 210.7 million net profits before taxes posted for the year 2010 on L.E. 780.9 million net sales among other revenues. Net working capital as of 12/31/2011 has declined to L.E. 426.6 million down from L.E. 514.4 million a year ago.

The company carries negligible long term liabilities. With regards to shareholders net equity as of the same date, including the year profits, it has increased to L.E. 828.1 million up from L.E. 764.5 million a year ago. Managing Director is Dr. Ahmed Kilani. N.B. Days earlier, the daily Al Alam Al Yom of 3/11/2012 (P, 5) indicated that AWB - Al Watani Egyptian Bank has endorsed extending the company an L.E. 60 million loan to finance its expansion and importation of new production lines among other equipment and raw materials from abroad.