Carthage Cement reports 5% fall in 1H net profit

Tunisia-based Carthage Cement posted a five per cent drop in net profit to TND15.3m (US$4.8m) in the 1H22 when compared with TND16.1m in the 1H21.

Revenues in the January-June 2022 period advanced three per cent to TND168.6m from TND163.8m in the year-ago period.  Operating expenses increased by three per cent YoY from TND133.6m to TND138.4m in the 1H22. As a result, the company’s operating profit contracted by 5.5 per cent to TND36.6m while in the year-ago period it had reached TND38.7m.

Net financial expenses edged up to TND22m from TND21m between June 2021 and June 2022, according to Il Boursa.