Office Plast Announces Net Profit of 0.133 Billion TND for First Half of 2024
Revenue Down 4.0% Year-over-Year to 17.610 Billion TND
Office Plast has reported a net profit of 0.133 billion TND for the first half of 2024. The company's revenue stood at 17.610 billion TND, a 4.0% decline compared to the same period last year. The sales of finished products subject to a 19% VAT rate saw a significant decrease of 28.0%, reaching 4.926 billion TND.
This decline led to lower procurement costs, amounting to 10.783 billion TND, which in turn allowed operational expenses to decrease by 5.1% to 16.378 billion TND. The operating result stood at 1.291 billion TND, compared to 1.127 billion TND for the same period in 2023.
Net Financial Charges Increase by 32.9% to 1.118 Billion TND
Net financial charges rose by 32.9% to 1.118 billion TND, reflecting a higher level of indebtedness. The company's loans increased from 4.613 billion TND in the first half of 2023 to 6.520 billion TND this year. Although bank overdrafts decreased, the figure of 2.238 billion TND only represents a snapshot of the end of the period. It is clear that Office Plast consumes significant financial resources for its operations.
Market Impact Expected to be Limited
These figures are not expected to have a significant and lasting impact on the company's stock price. With a small market capitalization of 15.102 billion TND and a year-to-date return of -15.57%, this type of company needs an outperformance or a capital structure event to move. If the activity indicators bring good news in October and January, there is a high probability that the data will change.
