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Tunisia: Land’Or improves its net profits by 77% to 3.5 MD in H1 2020

The leader of the cheese industry in Tunisia, Land’Or, announced a net profit up 77% in the first half of the year to reach 3.5 million dinars, compared to 2 million a year earlier.

At the end of the first six months of the year, the company achieved a turnover of 62.4 million dinars, compared to 55.8 million at the end of June 2019, up 11.8%.

These revenues come from sales on the local market for 42.8 million dinars (+11%) and export sales for 19.7 million dinars (+13%).

Indeed, on the commercial level, the situation gradually improved after two weeks of the lockdown decision and the company was able to return to normal activity: the increase in sales for wholesalers and supermarkets was able to compensate for unrealized sales in the hotel industry and catering sector during the period of lockdown, the company said.

As for operating expenses, they rose from 51.4 million dinars at the end of June 2019 to 59 million dinars on June 30, 2010, up 14.8%.

Consequently, the operating income for the period is down 14.5% to 4 million dinars, compared to 4.7 million dinars a year earlier.

Favored by a 26% drop in net financial expenses to 1.9 million dinars and a surge in investment income of 382% to 2.7 million dinars, the net half-yearly result showed a jump of 77% despite a tax charge on profits of 1.3 million dinars (+87%).


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