Société Immobilière Tuniso-Saoudienne (SITS) has published its annual accounts for 2023, which will be submitted for approval to the Annual General Meeting on June 14, 2024.
At the end of last year, the property developer posted a net profit of around 2 million dinars, compared with 564,000 dinars the previous year, representing growth of around 250%.
In 2023, the company’s revenues increased by 67% to 7.5 million dinars, compared to 4.5 million dinars at the end of December 2022.
Operating expenses rose from 3.7 million dinars to 5.6 million dinars, an increase of 51% to 5.6 million dinars.
As a result, operating income went up by 148% to 1.9 million dinars, compared to 0.7 million dinars in 2022.
