Egyptian auto distributor GB Auto made a 5.8 percent rise in net profit in the first quarter, the firm said in a stock exchange statement on Thursday.
Profit rose to 71.5 million Egyptian pounds ($10.17 million) from 67.58 million
GB Auto, Egypt's biggest listed automobile assembler, said on Sunday political turmoil in the country would weigh on its sales in the first half of 2011, but saw a rebound later in the year.
Chief executive Raouf Ghabbour said in a stateme
Egypt's GB Auto said it expected its car sales to bounce back quickly after the political protests, but commercial sales would likely suffer for the rest of 2011.
The company, Egypt's biggest listed car assembler, said net profit fell 55.4
GB Auto, Egypt's biggest listed vehicle assembler, said on Monday it had resumed operations nationwide for the first time since January 27 after the country was roiled by political protests.
It said in a brief statement that none of it
GB Auto, Egypt's biggest listed automobile assembler, said it was negotiating with India's Tata Motors to sell its vehicles in the Arab world's most populous market.
Egyptian automakers, most of which assemble foreign brands us
GB Auto, Egypt's biggest listed automobile assembler, was seen posting an 8.45 per cent year-on-year rise in third-quarter net profit to 69.3 million Egyptian pounds ($12 million).
A Reuters poll of three analysts also forecast Q3 revenue
GB Auto, Egypt's biggest listed automobile assembler, expects 2010 net profit to rise more than 50 per cent year-on-year as sales pick up after global financial turmoil deterred many buyers during most of 2009.
The automotive sector in Egy
New car sales in Egypt are set to jump to a record this year, the head of the country's main carmaker group said on Tuesday, brightening the outlook for local vehicle assembly firms such as GB Auto.
Egyptian automakers, most of which a
Egypt's GB Auto reported on Tuesday a leap in first-quarter net income, as sales extended a rebound from a slump in late 2008 and company the expanded into Iraq.
The firm, Egypt's biggest listed automobile assembler, said net incom