M.B Engineering (MBEN) reported a 591.5% year-on-year (YoY) jump in consolidated net profits attributable to the parent company in the first quarter (Q1) of 2024, recording EGP 21.979 million, versus EGP 3.178 million, the firm announced.

Sales surged to EGP 121.334 million during the January-March period of this year, compared to EGP 63.573 million during the same period of 2023.

Likewise, the company achieved standalone net profits after tax of EGP 1.095 million in Q1 2024, rising from EGP 207,305 in Q1 2023.

Meanwhile, standalone revenues surged to EGP 2.904 million from EGP 1.314 million.

Established in 1990 and listed in 2014, M.B Engineering is a public company, which operates within the capital goods sector and focuses on construction and engineering.

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