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Tunisia
Thursday 23 September 2021
HomeNewsSTIP sees overall turnover drop 26.72%

STIP sees overall turnover drop 26.72%

Total sales of the “Société Tunisienne des Industries de Pneumatiques” (STIP) decreased by 26.72% in the second quarter of 2020 compared to the same period in 2019.

Thus the local turnover dropped 20.87% during the second quarter of 2020 compared to the data of the same period of the fiscal year 2019, according to the activity indicators relating to the 2nd quarter of 2020 published by the company on the site of the Tunis Stock Exchange.

Likewise, the export turnover has decreased by 52.29% compared to the same period of fiscal year 2019.

Production increased by 78.34% compared to the same period in fiscal 2019.

The company’s activity was mainly impacted by a 99% drop in sales in April 2020, compared to April 2019, following the lockdown that was preceded by measures to prevent the spread of coronavirus and by a termination of the exclusivity contract for the sale of its products on the African market.

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