Egyptian car importer and manufacturer Ghabbour Auto said its first-quarter profit nearly doubled on higher sales for passenger cars and commercial vehicles.

Net profit jumped 89.8 per cent to 91.1 million Egyptian pounds ($16.96 million). Revenue increased 30.3 per cent to 1.1 billion pounds.

Passenger car revenue was 758.2m pounds, up 28.4 per cent, and commercial vehicle revenue was 193.7m, up 96.8 per cent.

'Both passenger cars and commercial vehicles registered best ever first quarter sales for the low season,' chief executive Raouf Ghabbour said.

The company's passenger car sales rose 17.7 per cent compared to the same period last year. The company had a passenger car market share in Egypt of 21.3 per cent at the end of the quarter.

'The outlook for the remainder of this year remains positive,' Ghabbour said.

Earlier this year, he said net profit and revenue would rise by half this year on brisk demand for vehicles in the most populous Arab country.

He has also said the company will push into exports and it hopes to generate 10 per cent of its revenues from abroad.

Ghabbour has an exclusive licence from South Korea's Hyundai Motor Company to assemble and distribute its cars in Egypt.