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Friday 23 July 2021
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Tunisia: STIP more than doubles its turnover in H1 to 55 million dinars

The Tunisian Company of Pneumatic Industries (STIP), the sole manufacturer of tires in the country, has seen its turnover soar by 128% at the end of H1 compared to same period last year, rising from 24.3 to 55.6 million dinars.

This strong increase in revenue is due to the rise in local sales from 20.7 to 48 million dinars between June 2020 and last June, it appeared in the activity indicators published by the company.

As for revenues from exports, they more than doubled to 7.7 million dinars as of June 30, 2021 compared to 3.6 million at the end of June 2020.

Production (in volume) has followed the same pace of growth as that of turnover by posting an increase of 111% to 5,664 tons.

According to the company, the outstanding bank debt stood at 74.2 million dinars as of December 31, 2020.

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