Tunisia: everything is fine on the stock exchange except for 3 sub-sectors!

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“The overall result of 69 of the 81 listed companies in the year 2017 improved by 24.5% compared to the year 2016, reaching an amount of 1,748 MD against 1,404MD.

Of these 69 companies, 60 had profitable results. The 20 companies that make up the Tunindex20, captured 81% of the global result, with an amount of 1,419 MD up 23,3% compared to the year 2016 (1,151 MD) “, the Tunis Stock Exchange said in a note published Thursday, July 12 on its website.

In the financial sector, the 12 listed banks posted an overall result of 1,097 million, up 23.7% compared to 2016. Only Wifack International BANK posted a deficit result.

The 7 listed leasing companies saw an 18.9% rise in their overall annual profit to 59.6 MD versus 50.1 MD the previous year.

The trend is reversed for the 4 listed insurance companies which posted a global annual result down 19.5% to 40.5MD against 50.3 MD during the year 2016.

In 2017, the financial sector saw an increase of 21% compared to 2016, with an overall result of 1,217 MD against 1,005 MD in 2016. This result represents 69% of the overall result across all sectors.

In the consumer goods sector, the overall result for the year 2017 grew 26.9%.

The overall annual result of the three major groups operating in the agri-food sector (Poulina Group Holding, Delice Holding and SFBT) rose by 31.9% to 349 MD against 265 MD in 2016.

The overall result for the consumer services sector was 5.2%. The two retail chains listed on the stock market (Monoprix and Magasin General) posted an overall annual profit of 9.2 MD against 7.7 MD in 2016, i.e. a rise of 20.5%, mainly explained by the remarkable performance of Magasin général.

The overall annual profit of the 3 listed car dealers (the UADH result not yet published) rose by 6.1% to 80 MD vs. 75.4 MD in the 2016 financial year.

The industrial sector achieved an overall loss of -31.1MD against -34.3MD in 2016, driven mainly by the poor performance of two cement plants. In the same trend, the subsector “building and building materials” posted for the second consecutive year negative results with a loss of -87.2MD in 2017 and a loss of -70.8MD in 2016.

In all, all sectors posted a positive overall performance in 2017, which explains the good result of the overall performance of listed companies.

Only 3 sub-sectors posted negative performances, namely insurance, household and personal care products and building and building materials.

After ICF, which achieved the strongest earnings growth during the period with a result of 14.9MD

against 0.401MD in 2016, the largest gains were achieved by Telnet Holding (+ 479.8%), SOTETEL (+ 314.7%), ASSAD (+ 234.2%), STB (+ 192.2%), SIAME (95.8%), ADWYA (79.7%), MAGASIN GENERAL (79.5%), SOTRAPIL (78.9%), MPBS (74.4%) and SOTUVER (66.7%).

The biggest drop in results affected SIMPAR (-70.1%), BTE (-65.6%), STAR (-54.5%), SAM (-39.5%), SAH (-25.9%), TUNIS RE (-22.8%), SANIMED (-19%) , 6%), INVESTMENT TUNISIA SICAF (-8.3%), LAND’OR (-6.6%) and ENNAKL AUTOMOBILES (-5.9%).

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