41 / 113
enue down 65.3% y-o-y in FY16 on total sales volumes of LE 25.7
million. Revenue for theAfter-Sales divisionrose 59.0%y-o-y.
Motorcycles & Three-Wheelers
Iraq
Iraqi operations were promising, showing considerable
growth y-o-y in terms of sales volumes, up 118.2% y-o-y, and
revenues, up 223.7%y-o-y.Management had launched sales of
these popular vehicles in Iraq last year to a promisingmarket
reception. GB Auto operates a small service center and spare
parts outlet in Baghdad, and has added a second in Al Najaf
that also includes a Bajaj showroom.
Tires
GBAuto’sRegionalTiresdivisionreporteda15.2%y-o-ydecrease
in revenues throughout the year. Management expects the
division’s performance to improve going forward despite the
region’s challenging operating environment. Jordanian opera-
tions are performingwell at both the top and bottom linewhile
Iraq business is still suffering due to severe market conditions.
Algeria’s top line is growing fast owing to better market cover-
age andneworganization.
Total Regional Revenue
(LE million)
2,889.3
2,821.1
1,201.4
1,544.6
2013
2014
2016
2015
2016 ANNUAL REPORT
39