MM Group for Industry and International Trade (MTI), a company for manufacturing, trading, and distribution in Egypt, has announced its results for the first quarter (Q1) of fiscal year (FY) 2016/ 2017. As for revenues, MTI has achieved a 38% increase from Q1 2016 to Q1 2017 (revenues in Q1 2017 amounted to EGP 1.508bn) on the back of outstanding performance from MTI’s consumer electronics segment. The group has recorded EGP 145m gross profit in Q1 2017, up 76% y-o-y with a significant improvement in margins, reaching 10% (2+% absolute increase over Q1 2016). The group’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased to EGP 115m in Q1 2017, up 74% y-o-y, with an 8% margin. MTI’s net profit saw significant improvement compared to the same period last year, recording a total of EGP 130m in Q1 2017, more than a 171% increase.

Source: Daily News Egypt May 11, 2017 10:18 UTC