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Tunisia: SOTUMAG improves its net profit by nearly 50% in 2019

The Société Tunisienne des Marchés de Gros (SOTUMAG), on Monday August 10, published its financial statements as at December 31, 2019 as they will be submitted to the approval of the Ordinary General Meeting to be held on September 2, 2020.

At the end of the past year, the company made a net profit of 4.7 million dinars, compared to 3.2 million in 2018, up 48%.

This performance is due to the combined effect of the increase in revenues and the control of expenses.

Indeed, SOTUMAG’s turnover increased by 14.7% to reach 14 million dinars, against 12.2 million in 2018. These revenues are mainly composed of fruit and vegetable royalties for 9.1 million dinars and fish royalties for 3.2 million dinars.

As for the operating expenses for the financial year 2019, they amounted to 9.7 million dinars, almost stagnating compared to the previous year, including 6.6 million dinars relating to personnel costs.

In this respect, the operating result is up 68% from 2.6 million dinars in 2018 to 4.4 million dinars at the end of last December.

In addition, the company realized in 2019 net investment income of about 1.6 million dinars, compared to 954 thousand dinars a year earlier.

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