Cairo – Mubasher: The consolidated net profits of MM Group for Industry and International Trade fell by 18.9% year-on-year (YoY) to EGP 299.78 million in the first nine months of 2020 from EGP 370.05 million, including minority shareholders’ rights.

The company’s sales declined to EGP 6.55 billion in the nine-month period ended 30 September from EGP 7.7 billion in the year-ago period, according to a bourse disclosure on Wednesday.

The standalone financial results showed net profits of EGP 286.97 million, down from EGP 296.82 million in the same period in 2019.

During the first half (H1) of 2020, MM Group achieved net profits of EGP 210.03 million, down from EGP 265.46 million in H1-19.