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Friday 18 June 2021
HomeNewsTunisia: City Cars revenues approach 100 MD in 6 months, despite COVID19

Tunisia: City Cars revenues approach 100 MD in 6 months, despite COVID19

Despite the cessation of its activities during the whole month of April 2020, due to the general lockdown decreed by the authorities, City Cars company was able to increase its current income by 7.0% to 39.872 MD during the 2nd quarter 2020 against 37.267 MD during the same period in 2019.

Over the whole 1st half of 2020, the turnover amounted to 93.366 MD against 85.974 MD during the same period in 2019, up 8.6%.

It should be noted that, the KIA brand has taken the leading position in the automobile distribution sector at the end of the first half of 2020 with a 10.0% share in the Light Vehicle market and 13.2% in the Passenger Car market.

Investment income also reached 2.516 MD on June 30, 2020 against 2.414 MD on June 30, 2019, posting an increase of 4.2%.

The net financial charges stood on June 30, 2020 at 0.835 MTD relating to bills discounting expenses and interests on guaranteed bonds.

At the end of June 2020, the net cash position stood at 36.167 MD against 26.317 MD one year earlier, recording a remarkable rise of 37.4%.

Staff costs reached 1.281 MD At the end of the 1st half of 2020.

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