Egypt: MTI records $19mln consolidated profits in 2024; capital hike approved
Cairo – MM Group for Industry and International Trade (MTI) logged consolidated net profits valued at EGP 1.09 billion in 2024, compared with EGP 699.15 million in 2023.
Net sales climbed to EGP 14.30 billion at the end of December 2024 from EGP 10.35 billion a year earlier. The earnings per share (EPS) climbed to EGP 0.58 from EGP 0.47.
Standalone Financials
At the end of December 2024, the company recorded net profits after tax amounting to EGP 907.963 million, an annual growth from EGP 631.268 million.
Non-consolidated EPS increased to EGP 0.49 last year from EGP 0.43 in 2023, while the net sales climbed to EGP 9.33 billion from EGP 7.88 billion.
Capital Hike
The board members agreed to raise the issued and paid-up capital to EGP 1.17 billion from EGP 936.58 million.
In the first nine months (9M) of 2024, the company posted higher consolidated net profits at EGP 801.29 million, versus EGP 482.12 million in the year-ago period.
Source: Mubasher
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