Arab Finance: Barbary Investment Group (BIG) posted a 32.3% year-on-year (YoY) surge in consolidated losses after tax and non-controlling in the first quarter (Q1) of 2024 to EGP 1.068 million, compared to EGP 807,094, a statement showed.
Operating revenues increased to EGP 1.691 million in the three months to March 31st, up from EGP 980,700 over the same period a year ago.
Likewise, standalone net losses after tax fell to EGP 739,085 in Q1 2024 from EGP 145,846 in Q1 2023.
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.