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Société Tunisienne des Marchés de Gros H2 profit climbs 81.1% YOY

Société Tunisienne des Marchés de Gros SA said its normalized net income for the second half amounted to 96 millimes per share, a gain of 81.1% from 53 millimes per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.3 million dinars, an increase of 81.1% from 696,720 dinars in the year-earlier period.

Total revenue grew 10.0% on an annual basis to 5.7 million dinars from 5.1 million dinars, and total operating expenses fell 9.7% year over year to 3.9 million dinars from 4.3 million dinars.

Reported net income rose year over year to 1.5 million dinars, or 111 millimes per share, from 582,190 dinars, or 44 millimes per share.

For the year, the company's normalized net income totaled 17 millimes per share, an increase of 59.9% from 11 millimes per share in the prior year.

Normalized net income was 2.2 million dinars, an increase of 59.8% from 1.4 million dinars in the prior year.

Full-year total revenue grew 13.2% on an annual basis to 11.0 million dinars from 9.7 million dinars, and total operating expenses totaled 8.0 million dinars, compared with 8.1 million dinars in the year-earlier period.

The company said reported net income grew 79.8% on an annual basis to 2.5 million dinars, or 192 millimes per share, in the full year, from 1.4 million dinars, or 107 millimes per share.

As of June 22, US$1 was equivalent to 2.46 Tunisian dinars.