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.