GB Auto’s H1 profits hike

Total sales revenue jumped by 42.2%

  
Traders work at the Egyptian stock exchange in Cairo February 2, 2014.

Traders work at the Egyptian stock exchange in Cairo February 2, 2014.

REUTERS/ Mohamed Abd El Ghany

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 company’s 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.

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