The Real Estate and Holding Company (SIMPAR) saw its revenues fall by 50% in 2018 compared to the year 2017, broker Mena Capital Partners (MCP).
The global annual revenues of SIMPAR (sales and equity income) amounted to 7.87 million dinars (MD), against 15.6 MD a year earlier, a decrease of 49.5%.
According to MCP, this fall is due to a 51.50% decline in home sales to 5.8MD compared with 12MD at the end of December 2017, as well as a 74% drop in store and office sales at 0.541 MD against 2.1 MD in 2017.
In addition, dividend income posted a slight increase of 4% to 1.3 million at the end of last December, against 1.25 MD a year earlier. Gross value added fell by 51% to 3.3 MD while gross operating surplus declined by 66% to 1.7 million dinars.
Current stock increased by 39%, from 21.4 MD in 2017 to 29.7 MD at the end of December 2018 while the finished goods stock was 14.5 MD, i.e. a slight decrease of 5%.