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GB Auto sees net profit doubling - Daily News Egypt

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GB Auto sees net profit doubling

GB Auto expects to double its profit in the second quarter of 2010 and plans to export buses to Middle Eastern and European markets by the end of 2010, executives said on Thursday. "In the coming quarter, we expect profit to increase quite a bit on Iraq," chief finance officer Colin Sykes said in a …


GB Auto expects to double its profit in the second quarter of 2010 and plans to export buses to Middle Eastern and European markets by the end of 2010, executives said on Thursday.

"In the coming quarter, we expect profit to increase quite a bit on Iraq," chief finance officer Colin Sykes said in a conference call.

He added that the firm expects to double its second quarter profit to LE 90-100 million on revenues of between LE 1.4 billion and LE 1.5 billion pounds.

The vehicle assembler’s chief executive officer Raouf Ghabbour also said the firm planned to export buses to markets in the Middle East and Europe by the end of 2010.

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https://www.dailynewsegypt.com/2010/05/14/gb-auto-sees-net-profit-doubling-in-q2/
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