Tunisia: STIP’s export turnover plummets 90.3% in Q1

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    Tunisian Tire Corporation (STIP)’s revenues in the first quarter of Q1-2018 posted a slight decrease of 3% compared to the same period in 2017.

    Overall sales rose from 11 million at the end of March 2017 to 10.7 million at March 31, i.e. a decrease of 3%, despite a 20.5% increase in local sales reaching 10.5 MD.

    Export turnover in Q1-2018 fell by 90.3% compared to the same period last year, to 229 thousand dinars against 2.3 million in 2017.

    Volume production fell by 57% to 1,050 tons from 2,445 tons a year earlier.

    As for the debt, the company disclosed the amount of bank commitments at the end of December 2017 which reached 205 million dinars.

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