Cairo – Mubasher: Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) expects generating earnings before interest, taxes, depreciation, and amortisation (EBITDA) of EGP 255 million in 2019, up by 11.7% year-on-year from EGP 289 million.

During the fourth quarter of 2019, Rameda’s EBITDA fell by 2% to EGP 96 million, according to a statement to the Egyptian Exchange (EGX) on Sunday.

For the full-year 2019, the company’s revenues grew by 11% to EGP 890 million, the company’s unaudited financial results showed.

As for Q4-19, revenues hiked by 16.3% year-on-year to EGP 271 million, data indicated.

It is noteworthy Rameda’s stock started trading on the EGX on 11 December after offering 18.8 million shares, or 2.45% of the company’s capital shares, in an initial public offering (IPO) as well as 357.77 million shares, representing 46.54% of the company’s capital shares, in a private offering.