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GB Auto’s Q1 net profit up 5.8%

: Saturday, May 10 - 2014 @ 11:06

Egyptian auto distributor GB Auto has reported a 5.8% increase in net income in the first quarter to EGP71.5m ($10.17m) from EGP67.58m a year earlier, Reuters has reported. Revenues jumped 28.1% to EGP2.6bn, the firm said. “Strong growth in key lines of business minimised the impact on our bottom line of a ban in Egypt on new imports of motorcycles and three-wheelers,” GB Auto CEO, Raouf Ghabbour, said.

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Saturday, May 10- 2014 @ 11:06 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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