Egypt's GB Auto posts 40 pct fall in fourth-quarter profit

Newswire

CAIRO, March 4 (Reuters) - Egyptian auto distributor GB Auto reported a 40.6 percent drop in fourth-quarter net profit while revenues rose nearly 20 percent to 2.819 billion Egyptian pounds ($405.00 million). The company said 2013 full-year net profit dropped by nearly 47 percent to 116 million Egyptian pounds, while revenue was up 10 percent to 9.130 billion Egyptian pounds. It said it is targeting gross profit of 1.4 billion Egyptian pounds this year and ...

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