Arab Finance: M.B Engineering (MBEN) posted a 450.61% year-on-year (YoY) increase in the standalone net profit after tax for the first half (H1) of 2023, according to the standalone financial statement filed to the Egyptian Exchange (EGX) on August 15th.
The company recorded a consolidated net profit after tax of EGP 575,547 in H1 2023, compared to a profit of EGP 104,529 in H1 2022.
Standalone sales dropped to EGP 2.628 million during the January-March period of this year, compared to EGP 2.797 million during the first six months of 2022.
Established in 1990 and listed in 2014, M.B Engineering is a public company, which operates within the capital goods sector and focuses on construction and engineering.