Cairo – Mubasher: The board of directors of MM Group for Industry and International Trade approved to raise the firm’s contribution to Ebtikar for Financial Investment’s capital by EGP 40 million.
Therefore, MM Group’s contribution will soar to EGP 350 million instead of EGP 310 million, the company disclosed to the Egyptian Exchange (EGX) on Tuesday.
In July, MM Group’s board consented to increase the firm’s contribution to Ebtikar’s capital by EGP 60 million to EGP 310 million instead of EGP 250 million.
It is worth pinpointing that during the first half of 2019, MM Group’s profits leapt to EGP 265.46 million from EGP 159.22 million during H1-18.
As for the standalone financials, the company’s profits surged to EGP 208.51 million in H1-19 from EGP 140.61 million in the prior-year period.
