GB Auto said on Monday its second-quarter net profit surged 92 percent to LE 77.7 million ($13.7 million), exceeding analyst forecast.

The firm, Egypt’s biggest listed automobile assembler, said net profit was LE 40.4 million in the same quarter a year earlier.

Investment bank EFG-Hermes had forecast the firm’s net profit at LE 71 million, and CI Capital had estimated it would be LE 71.9 million in a Reuters poll.