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Wednesday 22 September 2021
HomeNewsTunisia: STIP announces loss of 27 million dinars in 2017

Tunisia: STIP announces loss of 27 million dinars in 2017

The long series of disappointing releases continues for the Tunisian Tire Industries Company (STIP).

Acquired in 2016 by the Tunisian group Africa Holding, the company announced a new loss in 2017.

After posting a record loss of 50 million dinars in 2016, the STIP reported a deficit of 27.5 million dinars last year.

The company’s revenues decreased by 37% to 30.4 million dinars while operating expenses amounted to 46.5 million dinars (-67%) of which 19.8 million dinars staff costs.

The operating result shows a deficit of 15.9 million dinars against -35.8 million a year earlier.

In addition, the financial expenses of the company stood to 12.1 million dinars at the end of last December, against 13.4 million in 2016.

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