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HomeNewsTunisia: TGH’s revenues down 8% this year

Tunisia: TGH’s revenues down 8% this year

The revenues of TAWASSOL GROUP HOLDING (TGH) decreased by 8% at September 30, 2018, to 64.57 MD against 70.18 MD, a year earlier, according to activity indicators for the 3rd quarter of 2018.

The telecommunication network division achieved a 14% increase in its turnover in the third quarter for a total of 5.2MD including 4.5MD internationally and 1MD locally.

The infrastructure network division is experiencing a consolidation of its revenues following the refocusing of its roads and utilities business on the major markets and the completion of the gas pipeline markets.

The industry division posted third-quarter sales growth of 9%, in line with forecasts, to go from 8.8 billion in 2017 to 9.6 million in 2018, despite the two-week total shutdown of activity in the month of July that UTS-PALMA experienced for maintenance work.

With regard to the real estate division, the historical book value of land and works inventories at September 30, 2018 amounted to 45.2MD, including a work inventory value of 30.8MD, corresponding to a figure of 47 MD business to be carried out between the last quarter of 2018 and the first quarter of 2019.

The consolidated net debt of the group remains substantially at its level and stands at 89 MD on September 30, 2018, against 88.4 MD on September 30, 2017.

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