Arab Finance: Middle East Glass Manufacturing Company (MEGM) reported a consolidated net profits after tax of EGP 598.042 million in 2023, soaring by 687.6% year on year (YoY) from EGP 75.934 million, according to a disclosure on March 13th.
Meanwhile, the company registered standalone net profits after tax of EGP 21.967 million last year, versus net losses of EGP 11.084 million in 2022.
MEGM is an Egypt-based company primarily engaged in the manufacture, sale, and export of glass containers in the Middle East and North Africa region.
The company’s product solutions include food jars, bottles, juice, carbonated bottles, and pharma, among others.