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Societe Elbene Industrie H1 loss widens 36.5% YOY

Societe Elbene Industrie said its first-half normalized net income came to 1.7 million dinars, compared with a loss of 1.3 million dinars in the year-earlier period.

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

Total revenue declined 26.3% year over year to 40.0 million dinars from 54.4 million dinars, and total operating expenses decreased 28.6% on an annual basis to 38.9 million dinars from 54.4 million dinars.

Reported net income totaled a loss of 2.8 million dinars, compared with a loss of 1.9 million dinars in the year-earlier period.

As of Sept. 23, US$1 was equivalent to 2.20 Tunisian dinars.