MM Group’s consolidated profits near EGP 301m in H1-23

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

Cairo – Mubasher: The consolidated net profits after tax of MM Group for Industry and International Trade hit EGP 300.75 million in the first half (H1) of 2023, versus EGP 145.66 million in H1-22, including non-controlling equity.
Net sales enlarged to EGP 5.05 billion in January-June 2023 from EGP 3.62 billion during the same period in 2022, according to the income statements.

Earnings per share (EPS) stood at EGP 0.25 in the first six months (6M) of 2023, versus EGP 0.12 a year earlier.

Standalone Business
During the six-month period that ended on 30 June 2023, MM Group registered EGP 283.90 million in standalone net profit after tax, an annual leap from EGP 149.47 million.

Non-consolidated revenues hiked to EGP 3.73 billion in H1-23 from EGP 2.94 billion in H1-22, while the EPS increased to EGP 0.24 from EGP 0.13.

Financial Results for Q2-23

In the second quarter (Q2) of 2023, the EGX-listed firm posted growth in consolidated net profit after tax to EGP 142.89 million, compared to EGP 94.52 million a year earlier, including minority interest.

The net sales climbed to EGP 2.57 billion in April-June 2023 from EGP 1.66 billion during the same period in 2022, while the EPS jumped to EGP 0.12 from EGP 0.07.

As for the standalone business, the net profits after tax enlarged to EGP 137.07 million in Q2-23 from EGP 96.59 million in Q2-22, while the sales jumped to EGP 1.97 billion from EGP 1.42 billion.

During Q1-23, the listed firm posted consolidated net profits after tax valued at EGP 157.68 million, an annual leap from EGP 51.06 million, including minority shareholders’ rights.