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Tunisia: ASSAD sees net profit up 15% in first half

The Tunisian Accumulator Company ASSAD, on Monday, published its interim financial statements as at June 30, 2018.

These statements show a net income growth of more than 15% compared to the first half of the year, due to dividends of its Algerian subsidiary.

At the end of last June, the ASSAD Company achieved an overall turnover of 41.5 million dinars against 35.5 million a year earlier, i.e. an increase of 17%, while the operating expenses amounted to 38.4 million dinars, up 25%, due to the growth of procurement purchases consumed of more than 2 million dinars.

Therefore, the operating result for the period went down 36% to 3.1 million dinars against 4.8 million a year earlier.

Nevertheless, thanks to a 4-fold increase of the dividends of the company ASSAD ALGERIE, which goes from 490 thousand dinars at 30 June 2017 to 2 million dinars this year, the parent company has a net profit of 3.76 million dinars, thus recording a growth of 15.4%.

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