MM Group posts $5.43mln consolidated profit in Q1-24

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Cairo – The consolidated net profit of MM Group for Industry and International Trade soared to EGP 257.43 million in the first quarter (Q1) of 2024 from EGP 157.68 million in the same period a year earlier.

Net sales rose to EGP 2.76 billion in Q1-24 from EGP 2.47 billion in Q1-23, according to the interim financial results.

The earnings per share (EPS) amounted to EGP 0.17 in Q1-24, up from EGP 0.13 in Q1-23.

Standalone Financials

EIPICO’s standalone net profit surged to EGP 225.64 million in the three-month period ending on 31 March 2024 from EGP 146.66 million in the equivalent period the year before.

Standalone net revenues increased to EGP 1.92 billion in the January-March period from EGP 1.76 billion in the corresponding period last year.

In 2023, MM Group posted a consolidated net profit of EGP 699.15 million, up from EGP 346.25 million in 2022.