GMC Group swings to loss
Updated 4/28/2020 2:22:26 PM
ArabFinance: GMC Group for Industrial Commercial and Financial Investments (GMCI) incurred a net loss after tax of EGP 163,756 in 2019, according to an April 28th filing sent to the Egyptian Exchange.
In 2018, the company posted a net profit of EGP 1,519, the statement added.
In the first months of 2019, the group posted a net profit of EGP 1.943 million, a decline from EGP 4.957 million in the same period a year earlier.
GMC Group is an Egypt-based public shareholding company engaged in the production of home appliances, such as washing machines, dishwashers, electrical and gas oven, air conditioners, and refrigerators. This is in addition to vacuum cleaners, electric mixers, electrical fans, electrical grills, electrical irons, and microwaves.
