At the end of the first six months of the current year, ICF announced a net profit of 16.5 million dinars, compared with 10.2 million dinars at the end of June 2003, an increase of approximately 62%.
This strong growth in profits was mainly due to a 17% decrease in the cost of sales to 57.2 million dinars, which was higher than the decrease in revenues (-9%). At the end of June, revenues totaled 73.5 million dinars.
As a result, the gross margin for the first half of the year was 16.3 million dinars compared to 11.6 million dinars in the same period last year, an increase of approximately 40%.
Operating profit increased by 125% from 4.4 million dinars on June 30 to 10 million dinars at the end of June.
Investment income increased by 13% to 8 million dinars compared to 7 million dinars in the first half of last year.
