State-owned company “Les Ciments de Bizerte” has increased its losses in the first half of the current year, penalized by a growth in the cost of sales faster than income
The cement company posted a net loss of 15.7 million dinars at the end of the first half, compared to a deficit of 12.7 million a year earlier, up 3 million dinars.
The company ended 2018 with a net loss of 32.9 million dinars.
In the first six months of the year, Les Ciments de Bizerte achieved a turnover of 41.9 million dinars, against 39.9 million a year earlier, up 5%.
On the other hand, the cost of sales went from 35.9 million dinars to 41.3 million between June 2018 and June 2019, posting an increase of 15%.
Therefore, the gross margin fell by 84% to 608 thousand dinars, against 3.9 million dinars in the first half of last year.
Taking into account 9.8 million dinars from other operating expenses and 4.5 million administrative expenses, the operating profit of the cement producer shows a deficit of 12.1 million dinars against -5.7 million a year earlier.