ArabFinance: GMC Group for Industrial, Commercial, and Financial Investments (GMCI) reported an 80% Year on Year decline in its net profit in the first half (H1) of 2020, according to the company’s August 16th financial statements filed to the Egyptian Exchange.
Net profit stood at EGP 333,969 in H1 of 2020, compared to EGP 1,706,142 achieved in H1 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.
