SFBT achieved a good first half. Sales volume rose 18 percent up to TND 43.7 million allowing operating income to record a hike of 17 percent at TND 47.5 million.
The sharp appreciation of the US currency has increased the cost of COCA concentrate driving up the underlying accounts (+26.4 percent). This resulted in a 20 percent increase in operating expenses, a faster evolution than the income growth.
It's worthy to note that the company has decided, by using a 1.5 coefficient, to accelerate the amortization charges of its beer equipments causing therefore additional expenses of TND 0.6 million.
Operating income was almost flat at TND 8.4 m moving slightly up 5.6 percent.
Higher dividend of about TND 2 million from subsidiaries helped placements revenues rising TND 5.2 million. Pre-tax income improved therefore by 23 percent to TND 12.7million.
Shareholders equities were shortly consolidated at TND 79.2 million somewhat half the total assets. Financial debts have yet declined by 29.1 percent to TND 21.5 million accounting for a quarter of the shareholders funds. – ( TUSTEX)
© 2000 Mena Report (www.menareport.com)
