Egypt: GB Corp’s H1 consolidated profits climb 72.3% YoY

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GB Corp (AUTO) reported a 72.33% year-on-year (YoY) increase in consolidated net profits attributable to parent company during the first half (H1) of 2024, recording EGP 1.048 billion, compared to EGP 608.252 million, according to the company’s financial statements filed to the Egyptian Exchange (EGX) on August 15th.

Operating revenues rose to EGP 19.181 billion in H1 2024 from EGP 10.751 billion in H1 2023.

As for the standalone statement, the company did not register any profits.

GB Corp is a leading automotive company in the Middle East. The Egypt-based company has operations across six primary lines of business: passenger cars, motorcycles and three-wheelers, commercial vehicles and construction equipment, tires, after-sales, and Iraqi operations.