During the first half of 2023, the general management of the STIP company has decided to suspend activity (technical unemployment) at its two factories for one month, starting on May 1, 2023.
According to a press release issued by the company, “this decision was taken due to the level of stocks of finished products reached by the company”.
The shutdown lasted two weeks at the Msaken plant and three weeks at the Menzel Bourguiba plant.
At the date of the decision to suspend work, the stock of finished products amounted to TND 48,006,057. As at 30 June 2023, the inventory of finished products amounted to TND 30,096,592.
For the period ended June 30, 2023, the company recorded a net profit of TND 4.102 million, compared with a net profit of TND 10.202 million for the first half of 2022, a decrease of TND 6.099 million.
Management explains this fall by the decrease in turnover of more than TND 4 million, resulting in a decrease in gross margin of more than TND 1.965 million (margin rate of 32.54% at June 30, 2023 compared with 34.20% at June 30, 2022).
There was also an increase in personnel expenses of TND 1.025 million, an increase in net financial expenses by TND 1,505,613 and a decrease in other ordinary income of TND 1,620,284.
