Sitex Unveils Alarming Financial Results for 2023
The Industrial Textile Company (Sitex) has revealed concerning financial results for 2023. The company's turnover plummeted to 38,045 million dinars, down from 83,358 million in 2022, representing a staggering 54% decline.
The net result after accounting adjustments dropped to -17,385 thousand dinars, a significant deterioration compared to -3,119 thousand dinars in the previous year.
Furthermore, the operating result fell from 2,082 thousand dinars in 2022 to -12,016 thousand dinars in 2023.
These figures indicate a worrying deterioration in Sitex's financial performance.