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Tunisia: SOTETEL sees net profit fall 65% in H1

Penalized by the drop in revenues, the Tunisian Company of Telecommunications Enterprises (SOTETEL) saw its profits fall by 65% in the first half of the current year.

According to the interim financial statements as at June 30, 2018, SOTETEL’s revenues went from 23.8 million dinars to 20.2 million between June 2017 and June 2018, thus recording a decrease of 15%.

As for operating expenses, they fell by 11.6% to 19.8 million dinars, against 22.4 million at the end of the first half of last year, including 6.5 million dinars of staff costs.

Operating income for the period is down 66% to 478 thousand dinars against 1.4 million dinars a year earlier.

As a result, the company’s half-year net profit fell by 65% to 315 thousand dinars against 879 thousand dinars at the end of the first six months of the past year.

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