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MTI records EGP 368.2M consolidated profit in 2021

MTI records EGP 368.2M consolidated profit in 2021

ArabFinanceMM Group for Industry and International Trade (MTI) (MTIE) reported a slight increase in profits for the full year ended December 31st 2021, according to the company’s financial statements filed to the Egyptian Exchange (EGX).

MTI recorded a consolidated net profit attributable to the parent company of EGP 368.23 million in 2021, slightly up from EGP 366.41 million in 2020.

Consolidated net sales amounted to EGP 9.003 billion last year, rising from EGP 8.68 billion a year earlier.

Meanwhile, the company’s standalone net profit after tax stood at EGP 375.36 million in 2021, compared to a profit of EGP 356.71 million in 2020.

MTI is one of the leading distribution companies by geographic coverage in Egypt, with access to more than 40,000 points of sale.

The Egyptian joint stock Company operates in a wide range of businesses, including consumer electronics, telecommunication, automotive, seamless pipes, and tractors through partnerships with leading global brands including Samsung, Vodafone, Huawei, Range Rover, Jaguar, Maserati, Bentley, Carrier and Bosch.

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