Cairo – Mubasher: MM Group for Industry and International Trade reported a 61.35% year-on-year hike in its consolidated profits during the first quarter of 2019.

Net profits totalled EGP 142.97 million in Q1-19 from EGP 88.61 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Thursday.

Year-on-year, the company’s sales surged by 77.02% to EGP 2.896 billion in the three-month period ended 31 March, compared to EGP 1.634 billion.

As for standalone business, the company’s profits rose by 40.95% to EGP 109.62 million in Q1-19 from EGP 77.78 million in Q1-18.

For the full-year 2018, the EGX-listed firm’s profits logged EGP 275.52 million, compared to EGP 339.34 million in the previous year, including minority shareholders’ rights.

MM Group’s sales grew to EGP 7.6 billion last year from EGP 6.12 billion in 2017.

The company posted EGP 258.4 million in standalone profits in 2018, compared to EGP 271.7 million in the prior year.