M.B Engineering swings to profitability in 2021

Updated 3/7/2022 11:05:00 AM

ArabFinanceM.B Engineering (MBEN) turned to profitability during the full year ended December 31st 2021, according to consolidated financial statements filed to the Egyptian Exchange (EGX) on Monday.

The company reported consolidated profits attributable to the parent company of EGP 5.256 million in 2021, versus a net loss of EGP 4.984 million in 2020.

Moreover, standalone profits after tax rose to EGP 176,191 in 2021, from EGP 50,549 the year before, financial statements showed.

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.