Egypt's Ghabbour Auto (GB) on Sunday said its third-quarter net income rose 25 percent year-over-year to LE89 million (US$14.9 million), but said a return to growth may be temporary due to market volatility.
The firm, Egypt's biggest listed automobile assembler, said net income was 71.4 million pounds in the same quarter of 2010.
It also reported revenues of 2.38 billion pounds for the third quarter this year, a 16.5 percent increase over last year.
"While this return to growth is likely only a temporary upswing in a volatile market marked by passenger car supply constraints, it also is a testament to the strength of our market's long-term fundamentals..," said Chief Executive Raouf Ghabbour in a statement.
GB Auto's share price has tumbled since a popular uprising overthrew President Hosni Mubarak in early February.
The company's second quarter net profit fell 35 percent.
Its shares traded above LE50 before the January uprising. They closed at LE23 on Sunday before the results.
GB Auto, the top passenger car importer and distributor in the Middle East and North Africa, said growth was underpinned by its financing business and strong sales of motorcycles and three-wheelers.
"Three-wheeler (tuk-tuk) unit sales were record-breaking for the third consecutive quarter, while the expansion of the financing businesses has paid off in significant revenue gains," the company said.
