Carthage Cement posts TND3.3m net profit at end July

Carthage Cement posted a net profit of TND3.3m (US$1.2m) as of 31 July 2020, despite at two-month shutdown due to the COVID-19 pandemic. The stoppage led the company to lose nearly TND28.6m, according to company CEO, Brahim Sanaa.

Mr Sanaa said that the company targets a net result of TND19.6m by the end of the year, reversing the TND51.3m loss posted in 2019.

Carthage Cement  carried out a capital increase from TND172,134,413 to TND343,624,940, reducing the company’s bank indebtness by TND87m to TND454.7m. The total amount of other non-operating debts also fell, by TND127.5m to nearly TND52.2m.