GB Auto Profits Up As It Expects Quick Recovery From Unrest

Egypt's largest car assembly firm, GB Auto, reported a 28% increase in net profit in 2010, despite a Q4 decline in the run up to the country's political protests. It is also optimistic that the passenger car segment will recover quickly, but it warns that the commercial sector will suffer more from the unrest, which supports BMI's view that the industry will be faced with a great deal of uncertainty at a time when the former government's scrappage scheme was due to turn to the commercial sector.

To read the full article, please choose one of the following options: