Egypt's GB Auto said on Thursday its fourth quarter net profit fell 55.4 per cent year-on-year to LE40.1 million (US$6.8m).

This was "largely due to foreign currency pressures and some exceptional discounts on end-of-range promotions," it said in a press statement.

The firm, Egypt's biggest listed automobile assembler, said sales revenue rose 33.7 percent in the fourth quarter to LE1.8 billion.

For the full year, net profit rose 28.1 percent to LE257.9m.