The Clap:
GB Corp — parent company of automotive company GB Auto — saw record net income and top line growth across its Egyptian and Iraqi operations during Q1-2024 on the back of an efficiency enhancement strategy across the majority of its business lines and improved supply, it said.
Revenues:
The company saw its top line rise 89.9% YoY during the quarter to a company record of EGP nine billion.
Gross profit:
GB Corp’s gross profits are up 144.3% YoY to EGP 2.56 billion.
Operating profit:
The company more than tripled its earnings before interest to EGP 1.56 billion, recording a 234.1% YoY climb during the quarter.
Net profit:
GB Corp recorded a 481.6% YoY climb in net profits to EGP 626.3 million during the quarter.
