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Monday 21 September 2020
Home News Tunisia: ASSAD posts net loss of 1.7 MD in H1

Tunisia: ASSAD posts net loss of 1.7 MD in H1

The health crisis of COVID-19 and the measures that have been taken to deal with it have had negative repercussions on the financial situation of the company ASSAD in the first half of the current year.

Indeed, the manufacturer of electric accumulators has seen its net income fall into the red at the end of June last year to -1.76 million dinars, compared to a net profit of 7.2 million a year earlier.

This underperformance is mainly due to the 21% decline in revenues to 44 million dinars, compared to 55.4 million at the end of June 2019.

The local turnover amounted to 18.3 million dinars while that of export amounted to 25.4 million.

As for operating expenses, they went down from 47.8 million dinars to 42.7 million dinars between June 2019 and last June, a decline of 10.5%.

As a result, the operating income for the period fell by 84% to 1.2 million dinars, compared to 7.7 million dinars at the end of the first half of 2019.

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