Cairo – GB Corp recorded lower consolidated net profits after tax at EGP 1.35 billion in the first nine months (9M) of 2023, compared to EGP 1.74 billion in 9M-22, including non-controlling interest.

The revenues amounted to EGP 19.52 billion in 9M-23, an annual drop from EGP 22.88 billion, according to the consolidated financial statements.

Basic earnings per share (EPS) hit EGP 1.171 in January-September 2023, up from EGP 1.170 in 9M-22.

Total assets hiked to EGP 44.19 billion in 9M-23 from EGP 34.61 billion as of 31 December 2022.

Standalone Business

The non-consolidated net losses after tax of GB Corp reached EGP 1.13 billion as of 30 September 2023, while the loss per share was valued at EGP 0.001.

Financials for Q3-23

During the third quarter (Q3) of 2023, the consolidated net profits after tax stood at EGP 705.35 million, compared to EGP 654.24 million in Q3-22.

The revenues increased to EGP 8.77 billion in Q3-23 from EGP 7.21 billion a year earlier, while the EPS grew to EGP 0.61 from EGP 0.50.

In the first half (H1) of 2023, the EGX-listed firm posted a 40.30% YoY drop in consolidated net profit after tax to EGP 652.63 million, versus EGP 1.09 billion, including minority interest.

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