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Ennakl Automobiles H2 profit climbs 50.6% YOY

Ennakl Automobiles SA said its second-half normalized net income came to 12.9 million Tunisian dinars, a gain of 50.6% from 8.6 million dinars in the year-earlier period.

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

Total revenue grew 15.3% on an annual basis to 184.1 million dinars from 159.7 million dinars, and total operating expenses grew 12.7% on an annual basis to 165.6 million dinars from 146.9 million dinars.

Reported net income came to 16.9 million dinars, compared with 11.5 million dinars, or 384 millimes per share, in the year-earlier period.

For the year, the company's normalized net income totaled 968 millimes per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.22 dinars.

EPS rose 53.2% from 632 millimes in the prior year.

Normalized net income was 29.0 million dinars, a rise of 53.2% from 19.0 million dinars in the prior year.

Full-year total revenue rose 13.2% from the prior-year period to 350.1 million dinars from 309.2 million dinars, and total operating expenses increased 9.2% year over year to 308.2 million dinars from 282.2 million dinars.

The company said reported net income rose 47.8% year over year to 36.8 million dinars, or 1.23 dinars per share, in the full year, from 24.9 million dinars, or 830 millimes per share.

As of April 25, US$1 was equivalent to 2.02 Tunisian dinars.