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Tunisia: Land’Or improves its net profit by 72% to over 6 million dinars in 2020

The company LAND’OR published on Thursday, May 20, 2021 its individual financial statements closed on December 31, 2020 as they will be submitted to the approval of the Ordinary General Assembly ruling on the year 2020.

At the end of the past year, the cheesemaker increased its net profit by 72% to 6.2 million dinars, compared to 3.6 million a year earlier. This development is due mainly to the sharp increase in the company’s revenues.

In fact, the annual turnover increased by 17% from 109 million dinars in 2019 to 128 million at the end of last December, including 41.4 million dinars from export sales, or 32% of total revenue.

On the other hand, operating expenses went up by 18% to 120.9 million dinars, including 86 million consumed purchases and 9.5 million in personnel costs.

As a result, the operating income comes out 11% higher to 8.3 million dinars, compared to 7.5 million in 2019.

In addition, net financial expenses stood at 3.7 million dinars at the end of last December, against 4.3 million a year earlier.

These charges are composed mainly of interest on management loans and other financial expenses for 3 million dinars.

However, investments generated income of about 4.5 million dinars on December 31, 2020.

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