Tenth of Ramadan for Pharma Industries and Diagnostic Reagents (Rameda) reported a 138% y-o-y jump in its net income in 1Q2022 to EGP 71.8 mn, according to its earnings release (pdf). Rameda’s topline for the quarter rose 27% y-o-y to EGP 343.1 mn.

Private sales continue to underpin strong performance: Private sales grew 37.5% y-o-y during the first quarter of the year and continue to account for the bulk of the company’s sales. Rameda’s exports also registered strong growth, rising 153% y-o-y during the quarter, the release says.

What they said: “We are pleased to report yet another strong quarter for Rameda, which saw us record stellar top line growth and strengthen our margins significantly on both the operational level and bottom-line,” CEO Amr Morsy said. The results “underscore Rameda’s ability to consistently outperform against a challenging and often unpredictable economic environment.”

Acquisitions in the pipeline: Rameda is currently evaluating “a number of” unspecified potential acquisitions as the company focuses on “our portfolio expansion and optimization strategy” to continue driving growth, CFO Mohamed Fayek said.