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GB Auto’s consolidated profit increases 7.8% YoY in H1

GB Auto’s consolidated profit increases 7.8% YoY in H1

ArabFinance: GB Auto (AUTO) reported a 7.77% year-on-year (YoY) increase in consolidated profit attributable to the parent company during the first half (H1) of 2022, recording EGP 719.864 million, according to financial statements filed to the Egyptian Exchange (EGX) on Monday.

The company’s operating revenue surged to EGP 15.676 billion in H1 2022 from EGP 14.097 million in H1 2021.

The company reported neither standalone profits nor loss during the six-month period ended June 30th, compared to a net loss after tax of EGP 1.167 million in the same period a year earlier.

GB Auto is an Egypt-based automotive that operates in trading, distributing, and marketing all transportation means, including heavy trucks, semi-trucks, passenger cars, buses, agriculture tractors, and pick-ups.

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