Magasin Générale Reports 7.37% Increase in Revenue, Despite Net Loss
The Magasin Générale company recorded a tax-free turnover of 985 million dinars as of December 31, 2023, marking a 7.37% increase compared to the previous year, when the turnover stood at 917 million dinars.
However, the net result was a loss of 34,259 million dinars. This loss is primarily due to exceptional provisions of 25,833 million dinars, related to the participation in Founa company and various debtor accounts, amounting to 13,297 and 12,535 million dinars, respectively.
As for the group as a whole, the turnover reached 1 billion dinars as of December 31, 2023, representing a 7.71% increase compared to 993,264 million dinars in 2022.
Furthermore, the group's net result deteriorated, reaching a loss of 42,372 million dinars, a 8.13% increase compared to the previous year's loss of 39,188 million dinars.
Finally, the Board of Directors of MG, which met on April 30, informs that the Ordinary General Assembly will be held on Friday, June 14, 2024.
