GB Auto’s profits record LE 216.15M in Q1 2020

BY

-

Sun, 17 May 2020 - 03:30 GMT

BY

Sun, 17 May 2020 - 03:30 GMT

GB Auto showroom - Reuters

GB Auto showroom - Reuters

CAIRO – 17 May 2020: Ghabbour Auto (GB Auto) recorded profits of LE 216.15 million during the first quarter of 2020, compared to LE 76.57 million during the same period of 2019, marking an increase of 182 percent.

GB Auto’s financial indicators revealed an increase in sales to LE 216.15 million during January-March period of 2020, up from LE 5.84 million during the same period of 2019.

As per standalone results, the company accomplished profits of LE 330.59 million during the first three months of 2020, compared to 120.08 million during the same period of 2019.

In 2019, the company reached profits of LE 223.55 million, compared to profits of LE 672.3 million including minority rights during 2018.

Ghabbour is an Egypt-based company that is focused on automotive assembly, manufacturing, sales and distribution, as well as financing and after-sales services.

The company operates through five segments: the passenger cars segment, motorcycles & three-wheelers segment, the commercial Vehicles & construction equipment segment and the tires segment.

Comments

0

Leave a Comment

Be Social