GB Corp (GBCO)

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News

9 August 2017 11:55 AM Ghabbour Auto turns to losses in Q2-17

Cairo – Mubasher: Ghabbour Auto reported turning to losses in the second quarter of 2017 due to higher finance costs, according to a bourse filing on Wednesday. Net losses amounted to EGP 170.5 million in the three months ended June 2017, versus …

Financial Results

4 July 2017 11:31 AM GB Auto accepts CIO resignation

Cairo – Mubasher: Ghabbour Auto (GB Auto) said Tuesday that its board has accepted the resignation of the company’s chief investment officer (CIO) Menatalla Sadek. The resignation is effective as of 1 August. The company has appointed Sarah Maged …

Board of Directors

5 April 2017 03:56 PM NR Investments acquires 12% of GB Auto

Cairo - Mubasher: NR Investments has acquired a 12.3% stake in Ghabbour Auto (GB Auto), according to a bourse filing. The company said in a statement to the Egyptian Exchange (EGX) on Wednesday that the deal was held over 135.42 million shares, …

Mergers and Acquisitions

4 April 2017 00:08 PM Block trade on Ghabbour Auto

Cairo – Mubasher: A block transaction worth EGP 362.9 million was carried out on 135.4 million shares of Ghabbour Auto, the Egyptian Exchange (EGX) said in a statement. By 11:08am Cairo time, the stock rose 1.12% to EGP 2.71.

Insider Trading & Treasury Stocks

27 March 2017 08:04 PM Pharos maintains Equalweight on GB Auto

Cairo - Mubasher: Pharos Researchhas maintained their Equalweight recommendation on the stock of Ghabbour Auto with a valuation of EGP 3.50 per share. The research firm said in its recent report that it takes into consideration both the expected …

Ratings

27 March 2017 10:47 AM Ghabbour Auto Q4 losses worsen to EGP 1.17bn

Cairo – Mubasher: Ghabbour Auto said Monday that its consolidated losses for the fourth quarter of the fiscal year 2016 deepened to EGP 1.17 billion, versus losses worth EGP 18.16 million for Q4-16. The company suffered losses of EGP 989.8 million …

Financial Results

23 February 2017 01:01 PM GB Auto at 2.5M-low on treasury stock sales

Cairo – Mubasher: GB Auto’s shares dropped on Thursday to their lowest level in two-and-a-half months (since 6 December) after the company announced selling 26.5 million treasury stocks. The company’s stock fell 3.86% to EGP 2.99 by 12:00pm Cairo …

Trading Activities

23 February 2017 11:21 AM GB Auto starts treasury stocks sale

Cairo – Mubasher: Ghabbour Auto (GB Auto) said Thursday that it has started the sale of 26.5 million treasury stocks (2.4% of its capital) starting from Thursday until 23 March. The offered stocks are owned by Almora Resources, a fully owned …

Insider Trading & Treasury Stocks

22 February 2017 06:24 PM GB Auto subsidiary to sell stake in EGX

Cairo - Mubasher: The board of Ghabbour Auto (GB Auto) approved to sell 26.5 million shares owned by one of its subsidiaries in the Egyptian Exchange (EGX). The shares are owned by Almora Resources, which is 100% owned by GB Auto, according to the …

Trading Activities

25 December 2016 11:57 AM EGX executes ‘block trading’ deal on GB Auto

Cairo – Mubasher: GB Auto said a transaction worth EGP 633 million was carried out on its treasury stocks in the Egyptian Exchange, under the ‘block trading’ system. The transaction was executed on 193 million treasury stocks. GB Auto reported an …

Companies Investments

14 December 2016 02:53 PM GB Auto denies plans to establish tires plant

Cairo – Mubasher: GB Auto denied any plans regarding its intention to establish tires plant. The firm currently plans to establish motorcycle plant worth $60 million, said a bourse filling. GB Auto also stated that it nears finishing the …

Companies Investments

17 November 2016 00:48 PM GB Auto losses likely to hit EGP 350m in 2016 - Beltone

Cairo – Mubasher: GB Auto is forecast to log EGP 150 million losses during the fourth quarter of 2016, thus hitting EGP 350 million losses over the whole fiscal year, according to a research note by Beltone Financial. The research firm further set …

Stock Evaluations

10 November 2016 04:57 PM GB Auto profits climb 89.9% to EGP102.6m in Q3

Cairo - Mubasher: GB Auto, a leading automotive assembler and distributor in the Middle East and North Africa, said its net profits climbed 89.9% to EGP102.6 million for the third quarter of 2016. The company's revenues grew 2.9% y-o-y to EGP3.169 …

Financial Results

12 October 2016 02:45 PM GB Auto stocks hit seven-year low

Cairo - Mubasher: The stocks of GB Auto declined by 1.5% to EGP 2.04 per share, to hit its lowest level since 5 April 2009. The stocks of the leading automotive assembler and distributor witnessed, in Wednesday late trading, 1.5 million shares …

Trading Activities

18 September 2016 07:24 PM Prime cuts GB Auto FV, recommends 'Buy'

Cairo - Mubasher: Prime Research lowered its fair value for Ghabbour Auto by 8% to EGP 3.33 per share, with a strong “Buy” recommendation. The company’s profits in 2016 will be affected by the anticipated pound devaluation against the dollar, the …

Stock Evaluations

17 August 2016 00:57 PM GB Auto uses EGP 10.5m for motorcycle factory in H1

Cairo – Mubasher: GB Auto used EGP 10.45 million of the capital hike’s proceedings in the first half of 2016 for the two-and-three wheeler motorcycle factory, according to a bourse filing. The remaining amount stands at 984.22 million, the bourse …

Corporate Actions

12 August 2016 05:37 PM Pharos rates “Add” on GB Auto

Cairo-Mubasher: Pharos Research set the fair value of GB Auto, an automotive assembler and distributor in the MENA region, at EGP 3.4, with “Add” recommendation, according to a recent report. GB Auto posted strong second-quarter revenues on the …

Stock Evaluations

11 August 2016 11:22 AM GB Auto profits hike to EGP 124.4m in Q2

Cairo - Mubasher: GB Auto, a leading automotive assembler and distributor in the Middle East and North Africa, said it reported historical growth figures in terms of both profitability and market share for the second quarter of 2016, as it reached …

Financial Results

13 July 2016 10:59 AM GB Auto approves amending the employees’ incentive program

Cairo – Mubasher: The general meeting of Egypt’s leading vehicle assembler GB Auto approved amending number of Articles of the company’s employee’s incentive program. The amendments came in the form of allowing the employees to sell the stocks …

General Assembly

11 May 2016 11:32 AM GB Auto Q1 profits shrink 70%

Cairo – Mubasher: Egypt’s leading vehicle assembler GB Auto said profits for FY16 first quarter fell 70% year-over-year to EGP14.1 million ($1.6 million) from EGP47.1 million ($5.3 million), according to its consolidated financial results. The …

Financial Results

3 April 2016 11:30 AM GB Auto freezes FY15 cash dividends

Cairo – Mubasher: The ordinary general meeting of GB Auto approved Saturday 2015 financial statements. The ordinary meeting decided to freeze 2015 cash dividends based on the board’s proposals. Moreover, the ordinary meeting approved the auditors’ …

General Assembly

16 March 2016 11:10 AM GB Auto profits decline 12.4% in Q4

Cairo – Mubasher:  Egypt’s leading vehicle assembler GB Auto saw an decrease of 12.4% in net profits for the fourth quarter of 2015. The company’s net profits for Q4-2015 stood at EGP 28.1 million, down from EGP 32.1 million for the same period a …

Financial Results

11 February 2016 01:08 PM GB Auto stock hits 81-month low

Cairo – Mubasher: The stock of Egypt’s leading vehicle assembler GB Auto plunged on Thursday to its lowest level in 81 months, amid heavy selling activity over the stock in line with the sharp decline of the Egyptian Exchange. By 12:00pm Cairo …

Trading Activities

27 December 2015 11:28 AM GB Auto to restructure two subsidiaries

Cairo – Mubasher: Egypt’s leading vehicle assembler GB Auto said it is about to conduct ‘non-substantial’ restructuring for two subsidiaries. The restructuring of RG Investment and JB Capital is aimed to organise and combine the company’s …

Companies Investments

15 November 2015 10:15 AM Beltone maintains GB Auto FV at EGP 4.45/shr

Cairo – Mubasher: Beltone Financial Research maintained its fair value estimate for car assembler Ghabbour Auto (GB Auto) at EGP 4.45 per share, with 58.8% upsie potential, compared to the current market price of EGP 2.80 per share, with a “Buy” …

Stock Evaluations