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Tunisia’s SERVICOM achieves 56% sales rise in H1

Tunisia’s SERVICOM achieves 56% sales rise in H1
2.33% 0.44 0.01
Sales of Tunisia's construction group "SERVICOM" posted an increase of 56% in the first half of 2014, African Manager reported.
According to the website of the TSE (Tunis Stock Exchange), this growth is mainly due to the rise in business volumes in the sector of Public Works (+86%), heating and air conditioning sectors (+25%) and international business (+62%).
The group has also recorded sustained improvement in operating income during the same period, to 2.2 million Tunisian dinars (MTD) until June 30, 2014, from 1.5 MTD during the same period in 2013.
This improvement was mainly driven by the increase in operating income in the areas of public works (from 703 thousand dinars in 2013 to 1.2 MTD in 2014).
For SERVICOM group, H1 2014 was also marked by the completion of the capital increase of 20 MTD and air conditioning revenue growth of 41%, which reached 6.9 MTD compared to 2013.
Until June 30, 2014, sales of the Moroccan subsidiary of the group reached 1.5 MTD and forecasts predict sales of 6 MTD in 2014 due to the rise in sales of elevators in Morocco. As to the French subsidiary, it has achieved until June 30, 2014, a turnover of 341,000 dinars following the signing of the first contracts to install elevators with public and private clients.