Cairo – Mubasher: The consolidated net profits after tax of MM Group for Industry and International Trade hit EGP 346.25 million in 2022, an annual drop from EGP 375.46 million, including non-controlling equity.
Sales plummeted to EGP 6.90 billion last year from EGP 9 billion in 2021, according to the financial results.
The earnings per share (EPS) declined to EGP 0.29 as of 31 December 2022 from EGP 0.31 a year earlier, while the total assets retreated to EGP 3.49 billion from EGP 3.67 billion.
Meanwhile, the distributable net profits stood at EGP 1.32 billion in 2022, versus EGP 1.10 billion in 2021.
Standalone Income Statements
MM Group posted an 11.40% year-on-year (YoY) decrease in standalone net profit after tax to EGP 333 million in 2022 from EGP 375 million.
Non-consolidated revenues shrank by 20.20% to EGP 5.59 billion last year from EGP 7 billion during January-December 2021, whereas EPS went down to EGP 0.28 from EGP 0.32.
Bonus Shares
Eligible shareholders will receive 0.25 bonus share for every owned share.
In the first nine months (9M) of 2022, the EGX-listed firm witnessed 34.70% YoY lower consolidated net profits at EGP 218.17 million, compared to EGP 334.56 million, including minority shareholders’ rights.
