Cairo – Mubasher: Ghabbour Auto (GB Auto) on Monday posted a 27% year-on-year drop in consolidated losses for 2017.
Net loss stood at EGP 723.6 million last year, versus losses of EGP 989.8 million a year earlier, the company added in a filing to the Egyptian Exchange (EGX).
Sales increased to EGP 17.6 billion in 2017, compared to EGP 15.2 billion in 2016.
Standalone losses totaled EGP 703.11 million last year, against zero-profit in 2016.
GB Auto turned to losses in the first nine months of 2017 with a consolidated loss of EGP 475.46 million, against profits of EGP 184.89 million in the same period a year earlier.
