3 November 2017

SOMOCER ACCELERATES GROWTH IN THE THIRD QUARTER

SOMOCER Group’s growth has accelerated in the third quarter. The turnover jumped 28% this year to reach 19.2 million dinars. The overall turnover at the end of September was estimated at 23.3%, reaching 60.8 million dinars.

This performance can be explained by the improvement of the local turnover, which increased from 45.194 million dinars on September 30, 2016 to 52.715 million dinars for the same period in 2017(+ 16.64%).

The exports turnover also continued the rise that began in 2016 and recorded a significant increase of (+97.72%) going from 4.102 million dinars on September 30, 2016 to 8.111 million dinars at the same period in 2017.

It is noteworthy that as part of its international development policy, the company has managed to reach new markets to sell its products, particularly in France, Jordan and Algeria.
In addition, the production recorded on September 30, 2017 an increase of 17.90% compared to the same period in 2016.

The company’s liabilities have also increased by 6.39%, amounting to 63.659 million dinars against a total of 59.834 million dinars in the same period of 2016. Long and medium term debts represent 28.6% of the total liabilities as of September 30, 2017.

Compared with June 30, 2017, the company’s liabilities towards banking institutions (liabilities balance sheet) decreased by 2.2%, while off-balance sheet liabilities increased by 9.8% due to activity growth.

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