Office Plast Reports 9.2% Increase in Revenue for Q3 2024
Office Plast has announced a 9.2% increase in revenue for the third quarter of 2024, reaching 7,783 MTND, compared to the same period in 2023. This growth is primarily driven by the export market, which saw sales rise from 2,986 MTND in Q3 2023 to 3,410 MTND in Q3 2024.
The local market also performed well, with a 14.2% increase in revenue to 3,410 MTND. Since the beginning of the year, the company's revenue has grown by 1.4% year-over-year to 25,979 MTND.
Export sales have been a key driver of growth, increasing by 13.5% to 16,259 MTND, while the Tunisian market has seen a 14.0% decline to 9,720 MTND. However, demand from the European market has helped offset the decline in Tunisian sales.
Production has also followed a similar trend, with a slight 0.5% increase to 47,627 million pieces and a 5.9% increase to 24,757 MTND in value. The company has reduced its investments by 77% to 0,685 MTND, following investments made in 2023 to improve production capacity. In parallel, debt has been reduced by 13% to 19,907 MTND.
Cross-referencing these figures with the financial statements for the first half of 2024, which reported a net profit of 0,133 MTND, suggests that the company is heading towards a calm year. The stock's performance on the market is negative, with a return of -18.03%. The company's small market capitalization of 14,662 MTND lacks catalysts and growth drivers, limiting its attractiveness in a market where investors prefer to bet on stories, even fictional ones, rather than waiting for a company to implement its strategy.
