Arab Finance: MM Group for Industry and International Trade’s (MTI) board has approved establishing a wholly-owned company in Saudi Arabia to expand MTI’s business activities, according to a filing on September 26^th.

In the first half (H1) of 2023, the firm posted a 105.37% year-on-year (YoY) increase in consolidated net profits, recording EGP 294.798 million from EGP 143.545 million.

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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