The Société Tunisienne d’Automobiles (STA), distributor of the Chinese brand CHERY, has published its interim financial statements for the six months ended June 30.
These accounts show a 58% drop in net profit to 1.5 million dinars, compared with 3.6 million dinars in the first half of last year.
This sharp drop in profit is the result of a 48% drop in the company’s revenues, from 63.1 million dinars at the end of June 2022 to 32.4 million dinars at the end of last June.
This revenue comes from the sale of new vehicles worth 29.2 million dinars and the sale of spare parts worth 2.9 million dinars.
The dealer points out that in the first half of the year, the registration and marketing of the popular QQ car, as well as the ARRIZO 3 and ARRIZO 5 cars, was discontinued.
At the end of the first half of the year, vehicle inventories were valued at 40.2 million dinars, compared to 23.4 million dinars a year earlier and 14.8 million dinars at the end of December 2022.
In addition, net financial expenses increased from 148 thousand dinars to 1 million dinars between the end of June 2022 and the end of last June.
