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Ennakl Automobiles H2 profit falls YOY

Ennakl Automobiles SA said its second-half normalized net income amounted to 8.2 million dinars, a decrease of 34.5% from 12.6 million dinars in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue fell 8.4% year over year to 168.6 million dinars from 184.1 million dinars, and total operating expenses declined from the prior-year period to 156.8 million dinars from 163.7 million dinars.

Reported net income decreased 60.9% year over year to 6.5 million dinars, or 216 millimes per share, from 16.6 million dinars.

For the year, the company's normalized net income totaled 925 millimes per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.20 dinars.

EPS declined from 956 millimes in the prior year.

Normalized net income was 27.7 million dinars, a fall from 28.7 million dinars in the prior year.

Full-year total revenue rose 12.8% on an annual basis to 394.9 million dinars from 350.1 million dinars, and total operating expenses increased 16.0% year over year to 355.5 million dinars from 306.4 million dinars.

The company said reported net income decreased 14.4% year over year to 31.3 million dinars, or 1.04 dinars per share, in the full year, from 36.5 million dinars, or 1.22 dinars per share.

As of March 27, US$1 was equivalent to 2.28 Tunisian dinars.