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Universal Auto H2 profit falls YOY

Universal Auto Distributors Holding said its normalized net income for the second half came to 235,280 dinars, a decrease of 96.4% from 6.5 million dinars in the prior-year period.

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

Total revenue decreased on an annual basis to 181.1 million dinars from 190.2 million dinars, and total operating expenses came to 180.1 million dinars, compared with 179.3 million dinars in the prior-year period.

Reported net income came to 327,530 dinars, compared with 6.7 million dinars in the year-earlier period.

For the year, the company's normalized net income totaled 136,740 dinars, a decline of 99.1% from 15.9 million dinars in the prior year.

Full-year total revenue fell from the prior-year period to 354.8 million dinars from 368.5 million dinars, and total operating expenses grew year over year to 347.6 million dinars from 340.6 million dinars.

The company said reported net income came to a loss of 361,240 dinars in the full year, compared with income of 15.5 million dinars in the prior year.

As of June 21, US$1 was equivalent to 2.47 Tunisian dinars.