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.
GMC Group to invest EGP 70M
Updated 1/5/2021 10:58:00 AM
ArabFinance: GMC Group for Industrial, Commercial, and Financial Investments (GMCI) has intended to pump self-financed investments worth EGP 70 million during 2021, the company’s chairman Mohamed Junaidi said to Al-Mal website.
GMC plans to invest during 2021 with the aim of renewing some production lines in the factories, Junaidi said.
GMC aims to raise its production capacity to about 80% from the current 20% capacity.
The listed company posted a net profit of EGP 333,969 in H1 of 2020, compared to EGP 1,706,142 achieved in H1 2019.
