Reuters – Egyptian auto distributor GB Auto reported a 40.6% drop in fourth-quarter net profit while revenues rose nearly 20% to EGP 2.819bn ($405.00m).
The company said 2013 full-year net profit dropped by nearly 47% to EGP 116m, while revenue was up 10% to EGP 9.130bn.
It said it is targeting gross profit of EGP 1.4bn this year and revenues of EGP 13.3bn.
