The net profits of the Egyptian T3A Pharmaceuticals Group totaled 9.76 million Egyptian pounds ($2.1 million) in the financial year 2001, down 36.9 percent from the EP15.47 million earned in the previous year. T3A’s bottom line dropped despite a 20 percent annual rise in the company’s sales revenues, which reached EP104.14 million.
The profit fall was largely attributed to a significant 58 percent rise in the company’s marketing expenses, which amounted to EP12.4 million in FY01. T3A directs some 15 percent of its net sales revenues to marketing activities, seeking to maintain business growth. T3A also reported a 97 percent hike in its general and administrative expenses, reaching EP10.6 million in FY01.
Established in 1994, the private sector T3A Pharmaceuticals Group focuses on the production and distribution of pharmaceutical products, particularly high-quality generic substitutes for name-brand goods. The company operates a modern manufacturing facility in Assiut, which is the first in the region to be designed according to the standards of the US Food & Drug Administration (FDA). T3A’s has been granted a 10-year tax exemption by the government. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
