GMC Group Q1 profit rises

Updated 6/17/2020 10:29:00 AM

ArabFinance: GMC Group for Industrial, Commercial, and Financial Investments (GMCI) posted a 29% Year on Year growth in its profit for Quarter one (Q1) of 2020, according to a June 16th disclosure filed to the Egyptian Exchange.

Net profit stood at EGP 165,050 in Q1 2020, compared to EGP 128,391 achieved in Q1 2019.

In 2019, the group incurred a net loss of EGP 163,756, versus posting a net profit of EGP 1,519 in 2018.

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.