Egypt car assembler hits 25% profit increase
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Egypt car assembler hits 25% profit increase

Egypt car assembler hits 25% profit increase

Egyptian vehicle distributor GB Auto has posted a 25% rise in first-half net income to EGP92.5m ($15m), Reuters has reported. Despite the rise in profits, investment bank Beltone said it was a difficult quarter for GB Auto, mainly due to the weak market, a direct reflection of the country's current economic situation. Sales growth was mainly driven by Iraq sales, which grew by 54% in the second quarter in 2012.

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    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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