Cairo – Mubasher: Ghabbour Auto (GB Auto) on Thursday announced it turned a profit during the full-year 2018 on the back of growing sales.

The Cairo-based car assembler and distributor’s profit amounted to EGP 636.73 million ($36.35 million) last year, compared to a loss of EGP 723.6 million ($41.31 million) in 2017, including minority shareholders’ rights, the company said in a filing to the Egyptian Exchange (EGX).

The Egyptian automaker and importer’s revenues grew to EGP 25.8 billion in 2018, from EGP 17.6 billion in the prior year.

GB Auto posted EGP 15.8 million in standalone losses last year, against a profit of EGP 703.11 million in 2017.

During the first nine months of 2018, GB Auto’s profits amounted to EGP 515.28 million, including minority shareholders’ rights, versus losses of EGP 475.5 million in the corresponding period a year earlier.