Tunisie Leasing & Factoring (TLF) has published its interim financial statements for the period ending June 30, 2020.
In six months, the company has more than doubled its net profit achieved during the whole year 2019.
Indeed, the company’s net profit amounted to 12 million dinars at the end of June 2020, against a net loss of 321 thousand dinars at the same date in 2019 and a profit of 4.8 million dinars over the past year.
This performance is due to the sharp increase in investment income from 4 million dinars to 25 million dinars between June 2019 and June 2020.
To this end, the net proceeds from leasing increased by 80% to reach 42.5 million dinars, compared to 23.5 million as of June 30, 2019.
With the stagnation of operating expenses at 12.3 million dinars, the operating income for the period is up 167% to 30 million dinars at the end of June.
On the other hand, net allocations to provisions for customer risks and the result of written-off receivables increased by 56% from 10.6 million dinars to 16.6 million dinars between June 2019 and June 2020.