GB Corp reported consolidated net profits of EGP 1.10 billion for the first half (H1) of 2024, a significant increase from EGP 652.63 million in H1-23.
The company’s total revenues also saw a notable rise, reaching EGP 19.18 billion in H1-24, compared to EGP 10.75 billion in the same period last year, according to its financial statements.
As of 30 June 2024, the basic earnings per share (EPS) climbed to EGP 0.96, up from EGP 0.56 in H1-23. GB Corp’s total assets grew to EGP 59.70 billion by H1-24, compared to EGP 42.53 billion as of 31 December 2023.
Q2-24 Financial Results:
In the second quarter (Q2) of 2024, GB Corp recorded consolidated net profits of EGP 440.16 million, down from EGP 548.68 million in Q2-23.
However, the company’s revenues for Q2-24 increased to EGP 10.17 billion, up from EGP 6 billion in the same period last year.
Despite the rise in revenues, the EPS for Q2-24 dropped to EGP 0.38 from EGP 0.45.
Earlier, in the first quarter of 2024, GB Corp experienced a dramatic 481.60% increase in consolidated net profits after tax, reaching EGP 626.33 million, compared to EGP 107.69 million in Q1-23.