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Tunisia: STIP reduces losses in the first half of 2018

The Tunisian Company of Pneumatic Industries (STIP) has published its interim financial statements as of June 30, 2018. The latter, show a net loss of 1.75 million dinars, against a loss of 13.5 million in the first half of 2017.

This sharp drop in the deficit is mainly due to the increase in the company’s half-yearly revenues of more than 6 million dinars (+ 32%) to 25.6 million dinars, as well as the regression of operating expenses by nearly 6 million dinars (-20%) to 23.9 million dinars.

To this end, the company has managed to generate a profit from operating profit of 1.5 million dinars, for the first time since 2015, against a loss-making operating result of -13.4 million at June 30 2017 and -27.4 million as of December 31, 2017.

On the other hand, the net result of the company remains impacted by the net financial expenses which amounted to 3.4 million dinars at the end of the first six months of 2018, against 3.8 million a year earlier.

For the whole of 2017, the net financial expenses of the company amounted to 12.1 million dinars.

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