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HomeNewsTunisia: MG posts net profit of 12.4 MD, up 68%!

Tunisia: MG posts net profit of 12.4 MD, up 68%!

The Board of Directors of “Société Magasin Général” (MG) recently met to examine the interim financial statements for the year 2016.

These statements show a net turnover of 841.3 million Tunisian dinars (MTD), up 1%, an operating profit of 23.3 MTD, i.e. an increase of 97% and a net profit of 12.4 MTD, i.e. a rise of 68%.

Despite the unfavorable economic climate that affected all sectors and the resulting low earnings growth, the results are generally in line with forecasts.

The company expects to return to sales growth in 2017 and is well on its way to achieving all its objectives in relation to the expansion plan and the evolution of results.

The accounts, which are currently being certified by the statutory auditors, will be closed on April 6, 2017 at the next Board of Directors meeting.


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