ArabFinance: GB Auto (AUTO) reported a net profit after tax and non-controlling interest of EGP 673.1 million in the first half (H1) of 2021, compared to profit of 254.2 million in H1 2020, according to the companys earnings release for the period ended June 30th.

Total sales revenue jumped by 42.2% year-on-year (YoY) to EGP 14.09 billion during the January-June period of 2021 from EGP 9.91 billion.

Meanwhile, operating profit stood at EGP1.45 billion in H1 2021, up by 31% from EGP 1.11 billion in the year-ago period.

During the second quarter (Q2) of 2021, GB Auto achieved a net income of EGP 374 million, compared to EGP 115.8 million in Q2 2020.

GB Auto is an Egypt-based automotive company, which operates in trading, distributing, and marketing of all transportation means, including heavy trucks, semi-trucks, passenger cars, buses, agriculture tractors, and pick-ups.

Copyright 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.