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Tunisia: SOTUMAG improves net profit by 15% in H1 2020

The “Société Tunisienne des Marchés de Gros” (SOTUMAG) published its interim financial statements for the period ending June 30, 2020.

These statements show a half-yearly net income of 2.4 million dinars, compared to 2 million a year earlier, a growth of 15%.

Therefore, the spread of the COVID-19 pandemic during the 1st quarter of 2020 had no impact on SOTUMAG’s results as the Bir El Kassaa Market continued its activities during the lockdown.

The first half of the year saw the opening of a new pavilion for fruit and vegetables (Pavilion No. 6).

The company’s income reached 7.2 million dinars at the end of the first six months of the year, compared to 6.8 million during the same period last year, an increase of 7%.

These revenues come mainly from fruit and vegetable royalties for 4.7 million dinars and fish royalties for 1.6 million dinars.

Excluding operating expenses totaling 5.3 million dinars, the company’s half-yearly operating income is virtually stagnant at 1.95 million dinars.

In addition, the company has realized net investment income of about 1.1 million dinars at the end of June last year, compared to 767 thousand dinars a year earlier.


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