GMC Group for Industrial, Commercial, and Financial Investments (GMCI) reported a 291.04% year-on-year (YoY) increase in net loss after tax during the first half (H1) of 2023, according to the financial statement filed to the Egyptian Exchange (EGX) on August 17th.

Net loss after tax amounted to EGP 189,703 in H1 2023, compared to EGP 48,513 in the same half a year earlier.

The company did not register any revenues for the period.

Established in 1991, GMCI is primarily engaged in the provision of petroleum services, including trading in oil, and maintenance and repair of drilling equipment.

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