Cairo - Mubasher: The extraordinary general meeting (EGM) of Ghabbour Auto (GB Auto) agreed to change the group’s name to GB Corp.

The shareholders greenlighted the rebranding on 26 March 2023, according to a recent bourse filing.

Last January, the EGX-listed company pointed out that the new brand identity aligns with its strategy to reinforce its position and achieve its ambitions in light of shifting local and global economic landscapes.

In 2022, GB Auto logged consolidated net profits after tax at a value of EGP 10.53 billion, compared to EGP 1.76 billion in 2021, including minority interest.

Basic earnings per share (EPS) hiked to EGP 9.17 last year from EGP 1.28 as of 31 December 2021.