Cairo – Mubasher: The consolidated net profits of GB Corp hiked by 41.20% to EGP 1.79 billion in the first nine months (9M) of 2024 from EGP 1.27 billion in 9M-23.
Total sales revenues hit EGP 35.40 billion as of 30 September 2024, up 81.40% year-on-year (YoY) from EGP 19.52 billion, according to the financial results.
Meanwhile, earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 34.30% YoY to EGP 1.67 billion in 9M-24.
Financial Results for Q3-24
In the third quarter (Q3) of 2024, the group’s net profits reached EGP 746 million, an annual rise of 12.60% from EGP 662.40 million. Revenues climbed by 85% to EGP 16.22 billion from EGP 8.77 billion.
Nader Ghabbour, CEO of GB Corp, commented: “GB Capital benefited from higher disbursements and saw its portfolio expand 19.80% q-o-q to reach EGP 12.6 billion in 9M-24.”
During the first half (H1) of 2024, the EGX-listed posted higher consolidated net profits at EGP 1.10 billion, compared to EGP 652.63 million in H1-23.
