MM Group for Industry and International Trade’s (MTI) consolidated net profits attributable to the parent company rose 61.8% year on year (YoY) during the first quarter (Q1) of 2024, the company disclosed on May 30th.

Consolidated net profits amounted to EGP 247.85 million in Q1 2024, compared to EGP 153.143 million in Q1 2023.

Meanwhile, net sales climbed to EGP 2.768 billion from EGP 2.477 billion.

The firm garnered EGP 225.645 million in standalone net profits after tax in Q1 2024, compared to EGP 146.66 million in Q1 2023.

Similarly, standalone net sales rose to EGP 1.925 billion from EGP 1.763 billion.

MTI is one of the leading distribution companies by geographic coverage in Egypt, with access to more than 40,000 points of sale.

The Egyptian joint stock Company operates in a wide range of businesses, including consumer electronics, telecommunication, automotive, seamless pipes, and tractors through partnerships with leading global brands including Samsung, Vodafone, Huawei, Range Rover, Jaguar, Maserati, Bentley, Carrier and Bosch.

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