BIG reports 279% loss increase
Updated 6/16/2020 3:05:00 PM
ArabFinance: Barbary Investment Group (BIG) (BIGP) reported a 279% Year on Year rise in its consolidated net loss in Quarter one (Q1) of 2020, according to the company's June 16th financial statements filed to the Egyptian Exchange.
Consolidated net loss stood at EGP 2,125,600 in Q1 2020, compared to EGP 561,240 incurred in Q1 2019.
Standalone net loss reached EGP 2,100,951 in Q1 2020, a 298% rise from EGP 527,402 incurred in Q1 2019.
Last December, BIG’s extraordinary general meeting approved a stock split, cutting the par value per share from EGP 1 to EGP 0.20.
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.
