GB Auto gains L.E5.5 Billion Revenues on Passenger Car Sales: FY 2011

GB Auto (AUTO) has achieved revenues of L.E5.5 billion during the FY 2011 gaining 7.2%, noting that it had posted revenues of L.E5.1 billion for the same comparable period of 2010.

In the meanwhile, the revenues of the motorcycles sales reached L.E967 million, compared to L.E594 million in 2010. Yet the revenues of the commercial vehicles and construction equipments sales have witnessed a dip of 51.1% to eventually reach L.E286 million, noting that it had posted revenues of L.E586 million for the same comparable period of 2010.

In 2012, the company targets at making Geely cars expansions into North Africa markets and at launching new models so as to supply the commercial trucks sector. In addition, GB Auto also intends to present more products and markets coincided with having expansions into new markets in the region.

The GB Auto’s financial statement for 2011 has revealed net profits of L.E222.987 million recording a decline of 21.5, noting that the company had posted net profits of L.E283.956 million in 2010.