Cairo – Mubasher: MM Group for Industry and International Trade has reported consolidated net profits worth EGP 51.06 million during the first quarter (Q1) of 2022, versus EGP 130.23 million in Q1-21.

The company's sales reached EGP 1.94 billion in Q1-22, down from EGP 2.51 billion during the same period a year earlier, according to a bourse disclosure on Sunday.

Earnings per share (EPS) declined to EGP 0.05 in Q1-22 from EGP 0.11 in Q1-21.

Meanwhile, the standalone net profits plunged to EGP 52.87 million in the first three months (3M) of 2022 from EGP 116.69 million in the year-ago period.

The non- consolidated revenues stood at EGP 1.52 billion in the January-March 2022 period, compared to EGP 1.97 billion in Q1-21.

It is worth noting that in 2021, MM Group achieved consolidated net profits worth EGP 375.46 million, higher than EGP 370.49 million in 2020.