GB Auto and its Subsidiaries (S.A.E)
52
GB Auto
•
2012 ANNUAL REPORT
Consolidated statement of income
For the year ended 31 December 2012
(All amounts in thousand Egyptian pounds)
Notes
2012
2011
Sales
8,290,147 7,415,292
Cost of sales
(7,220,107) (6,531,989)
Gross profit
1,070,040
883,303
Other income
27,712
20,035
Administration expenses
(304,908)
(254,248)
Selling and marketing expenses
(159,152)
(107,814)
Provisions - net
33
(17,349)
(16,168)
Other operating expenses
-
(1,187)
Stock option fair value for the managing director
34
(1,364)
(4,693)
Operating profit
614,979
519,228
Finance costs - net
35 (300,182)
(219,233)
Net profit before tax
314,797
299,995
Income tax
36
(38,867)
(77,008)
Net profit for the year
275,930
222,987
Profit is attributable to:
Shareholders of the parent
217,796
190,628
Minority interest
58,134
32,359
275,930
222,987
Basic earnings per share in EGP
37
1.69
1.48
Diluted earnings per share in EGP
37
1.66
1.45
The accompanying notes on pages 55 to 85 form an integral part of these consolidated financial statements.