The Agricultural Production Company of TEBOULBA (SOPAT) has just published its financial statements as at December 31, 2017 as they will be submitted to the approval of the Ordinary General Meeting to be held on December 4, 2018 in Sousse.
After a loss of 6.8 million dinars in 2016, SOPAT announces to have posted a net deficit of 5.5 million at the end of last December.
This underperformance is explained by the growth in operating expenses at the same rate as revenues.
Indeed, the company’s total turnover amounted to 67 million dinars at the end of December 2017, compared with 61.4 million dinars in 2016, up 8.6% while operating expenses rose from 66.5 million dinars to 72.2 million, i.e. up 8.5%.
As a result, the operating profit shows a deficit of 5.1 million dinars against -5 million a year earlier.
Net financial expenses amounted to 1.8 million dinars, including 0.8 million accounts receivable expenses.