The Clap
GB Auto (AUTO) had a strong H1 2022, as profits increased 7.1% YoY to reach EGP 719.9 million, while revenue was up by 11.2% to reach EGP 15.7 billion.
The Deets
Nader Ghabbour, Managing Director of GB Auto, says that an increase in demand, in addition to the company’s strategy in dealing with economic pressures were big factors in the strong performance during H1 2022.
GB Capital
GB Capital, a subsidiary of GB Auto that specializes in financing services, recorded a 50.8% increase in profit to reach EGP 398.8 million YoY during H1 2022.
The big jump in profit is due to the positive effect that Tasaheel’s securitization bond issuance had. Tasaheel is a subsidiary of GB Capital.
GB Auto profits up in H1 2022 ↗️
