Cairo – Mubasher: Ghabbour Auto (GB Auto) achieved a net profit of EGP 1.09 billion during the first six months (6M) of 2022, a year-on-year (YoY) jump of 34.80% when compared to EGP 811.6 million, including minority shareholders’ rights.

Revenues for the six-month period ended 30 June 2022 increased by 11.2% YoY to EGP 15.67 billion, compared to EGP 14.09 billion, according to a bourse filing on Monday. 

In the second quarter (Q2) of 2022, the net profits soared by 57.6% on an annual basis, reaching EGP 728.3 million, compared to EGP 462.10 million, including minority shareholders’ rights.

Moreover, revenues in Q2-22 came in at EGP 7.83 billion, a YoY growth of 7.80% despite market challenges.

In Q1-22, the consolidated net profits of GB Auto rose by 4.60% YoY to EGP 365.64 million from EGP 349.52 million, including minority shareholders' rights.