Attijari Leasing has just published its interim financial statements for the half-year ended June 30, 2019, showing a net profit half-year down sharply from last year.
The leaser posts a Net Profit of 581 thousand dinars, at the end of June, against 2.6 million dinars for the first half of 2018, down about 77%.
This sharp decline in profits is marked by the rise in net provisions on trade receivables and the result of write-offs from 860 thousand dinars in June 2018 to 1.9 million dinars at the end of last June.
At the end of the first half of the current year, leasing and factoring revenues amounted to 27.6 million dinars, compared to 26.1 million a year earlier, while the net leasing income stood at 8.4 million dinars against 10 million at the end of June 2018.
Operating expenses totaled 5.6 million dinars, compared with 5.3 million a year earlier, including nearly 4 million in personnel costs.
Therefore, operating income for the period is down 80% to 760 thousand dinars, against 3.8 million dinars at the end of the first six months of 2018.