Cairo – Mubasher: MM Group for Industry and International Trade recorded a 66.7% year-on-year profit hike during the first half of 2019, the company’s consolidated financial results showed.
Net profits grew to EGP 265.46 million in the six-month period ended 30 June, compared to EGP 159.22 million in the prior-year period, according to a statement to the Egyptian Exchange (EGX) on Wednesday.
During the second quarter of 2019, MM Group’s net profits skyrocketed to EGP 122.49 million from EGP 70.6 million in Q2-18.
Meanwhile, sales stood at EGP 5.34 billion in H1-19, up from EGP 3.44 billion in H1-18.
As for standalone business, the company’s profits increased to EGP 208.51 million in the January-June period of 2019, compared to EGP 140.61 million in the year-ago period.
In Q1-19, the company’s profits grew to EGP 142.97 million from EGP 88.61 million in Q1-18.
