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FINANCIAL NEWS
Egypt’s GB Auto reports USD15m profit in H1
09 Aug 2012
(MENAFN) Egyptian vehicle distributor GB Auto posted a 25 percent increase in half-yearly profits, Reuters reported.
The company said it made USD15 million net profit during the first half of the year, according to figures released by the stock exchange.
GB Auto is the largest listed automobile assembler in Egypt and controls a third of the local passenger car market.
The Egyptian car market has grown on a fast pace in recent years, driven by easier access to credit, a wider range of cheaper Asian vehicles and a fast-expanding population.
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BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
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