Cairo – Mubasher: MM Group for Industry and International Trade reported net profits of EGP 210.03 million in the first half (H1) of 2020, down by 20.88% year-on-year (YoY) from EGP 265.46 million, the consolidated financial statements showed.
The company’s sales declined to EGP 4.34 billion in the January-June period, compared to EGP 5.34 billion in the prior-year period, according to a bourse disclosure on Wednesday.
Likewise, MM Group’s standalone net profits fell to EGP 204.65 million in H1-20 from EGP 208.52 million in H1-19.
It is worth mentioning that during the first quarter of 2020, the company logged net profits of EGP 106.64 million, down from EGP 142.97 million in the same period a year earlier, including minority shareholders’ rights.
