Arab Finance: GB Corp (AUTO) reported an 81.1% year-on-year (YoY) decrease in consolidated net profits attributable to the parent company in 2023, recording EGP 1.891 billion, compared to EGP 9.985 billion, the firm stated on March 3^rd.

Operating revenues came in at EGP 28.317 billion last year, down from EGP 29.789 billion in 2022.

As for the standalone statement, the company registered net profits amounting to EGP 160.208 million in 2023, with no standalone net profits or losses reported for 2022.

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.

EMPC’s standalone profits soar 111.5% YoY in Q1 2024 Updated 5/16/2024 1:37:00 PM

Sheeni Egypt turns to loss in 9 months Updated 5/16/2024 12:50:00 PM

East Delta Flour Mills’ profits up 17% YoY in 9 months Updated 5/16/2024 12:40:00 PM

Egypt Gas’s profits grow 48% YoY in Q1 2024 Updated 5/16/2024 11:06:00 AM

e-finance’s consolidated profits surge 64% YoY in Q1 2024 Updated 5/16/2024 10:59:00 AM