Cairo – Mubasher: The consolidated financial statements of MM Group for Industry and International Trade showed a 58% year-on-year profit hike during the first nine months of 2019.
Net profits surged to EGP 370.07 million in the January-September period, compared to EGP 233.6 million in the year-ago period, including minority shareholders’ rights, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.
Meanwhile, sales rose to EGP 7.7 billion in the nine-month period ended 30 September from EGP 5.4 billion in the corresponding period a year earlier.
At the level of standalone financials, the company’s net profit grew to EGP 296.8 million in the January-September period, compared to EGP 222.15 million in the same period of 2018.
As for the third quarter of 2019, MM Group logged a consolidated net profit of EGP 104.5 million, compared to EGP 74.4 million in the prior-year period.
It is noteworthy that during the six-month period ended 30 June, the EGX-listed firm’s net profits amounted to EGP 265.46 million, up from EGP 159.22 million in H1-18.
