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HomeNewsTunisia: ASSAD Accumulator almost doubles its profits in H1

Tunisia: ASSAD Accumulator almost doubles its profits in H1

ASSAD, the manufacturer of electric accumulators has published its interim financial statements as at June 30, 2019.

These statements show a net profit of 7.2 million dinars, compared to 3.7 million in the first half of last year, thus recording up 91.4%.

Indeed, the company’s half-yearly revenues show a growth of 33.4% to 55.4 million dinars, against 41.5 million at the end of the first six months of the year.

This rise bears the mark of the increase in export sales from 27.6 million dinars to 38 million between June 2018 and June 2019, i.e. a growth of 37.3%.

As for local sales, they amount to 17.2 million dinars in the first half, compared with 13.5 million a year earlier, i.e. an increase of 27.3%.

Over one year, the company’s operating expenses went from 38.4 million dinars to 47.7 million, up 24.2%, mainly due to the 15.8% increase in purchases of supplies consumed at 33.2 million dinars.

For this purpose, the operating profit shows a surplus of 7.7 million dinars in the first half of the current year, against 3.1 million a year earlier, soaring 147.5%.

Moreover, the company doubled its investment income to reach 4 million dinars at the end of last June, against 2 million at the same date in 2018.

Nevertheless, the net financial expenses increased sharply to 3, 2 million dinars, against 1 million a year ago, mainly due to the rise in foreign exchange losses by 1 million dinars.


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