Barbary Investment Group's full-year profit declines
Updated 5/3/2020 12:48:03 PM
ArabFinance: Barbary Investment Group SAE (BIG) (BIGP) reported a 26% Year on Year (YoY) increase in its consolidated net loss for 2019, according to a May 3rd disclosure filed to the Egyptian Exchange.
Consolidated net loss reached EGP 3,273,156 in 2019, an increase from EGP 2,591,141 the group suffered a year earlier.
Nevertheless, the company posted a net standalone profit of EGP 12,086,479 in 2019, against a net loss of EGP 1,538,824 in 2018.
Last December, BIG’s extraordinary general meeting approved splitting the share's par value from EGP 1 to EGP 0.20.
BIG is an Egypt-based holding company, which provides automotive auto parts, products of the original equipment manufacturer, and aftermarket spare parts.
The company’s diversification portfolio includes establishing one-stop shops for automotive parts, strategic acquisitions of automotive brands, automotive dealerships, and manufacturing and assembly of related automotive factories.
