MM Group’s consolidated profits exceed EGP 482m in 9M-23

3D illustration of financial business chart with diagrams and stock numbers showing profits and losses

Cairo – Mubasher: MM Group for Industry and International Trade registered EGP 482.12 million in consolidated net profit after tax during the first nine months (9M) of 2023,The achieved net profits were higher year-on-year (YoY) than EGP 218.17 million, according to the financial results.

Revenues enlarged to EGP 7.99 billion in 9M-23 from EGP 5.08 billion during the nine-month period that ended on 30 September 2022.

The earnings per share (EPS) stood at EGP 0.32 in January-September 2023, up YoY from EGP 0.15.
Total assets hit EGP 4.33 billion in 9M-23, versus EGP 3.49 billion as of 31 December 2022.

Standalone Business

The group generated standalone net profits after tax worth EGP 451.18 million during 9M-23, compared to EGP 212.57 million in the year-ago period.

Non-consolidated revenues climbed to EGP 6.01 billion as of 30 September 2023 from EGP 4.16 billion in 9M-22, while the EPS rose to EGP 0.31 from EGP 0.14

Financials for Q3-23

During the third quarter (Q3) of 2023, the EGX-listed firm witnessed YoY higher consolidated net profits valued at EGP 181.54 million, compared to EGP 72.51 million.

The revenues hiked to EGP 2.93 billion in Q3-23 from EGP 1.46 billion in Q3-22, while the EPS increased to EGP 0.12 from EGP 0.05.

Non-consolidated net profits after tax soared to EGP 167.28 million in July-September 2023 from EGP 63.10 million in Q3-22, while revenues jumped to EGP 2.27 billion from EGP 1.21 billion.

In the first half (H1) of 2023, MM Group logged consolidated net profits after tax worth EGP 300.75 million, an annual surge from EGP 145.66 million, including non-controlling equity.