Arab Finance: Barbary Investment Group (BIG) posted an 8.8% year-on-year (YoY) decrease in consolidated losses attributable to the parent company in 2023, according to financial statements filed to the Egyptian Exchange (EGX) on March 3rd.
The company’s consolidated losses excluding minority interest dropped to EGP 2.781 million last year from EGP 3.049 the year prior.
Consolidated revenues increased to EGP 8.130 million from EGP 4.06 million in 2022.
Likewise, standalone net losses after tax fell to EGP 1.3 million in 2023 from EGP 2.064 million the year before.
BIG is an Egypt-based holding company that provides automotive auto parts, products of the original equipment manufacturer, and aftermarket spare parts.
The company’s diversified portfolio includes establishing one-stop shops for automotive parts, strategic acquisitions of automotive brands, automotive dealerships, and manufacturing and assembly of related automotive factories.