Insufficient improvement
Carthage Cement’s Q3 2017 results are still declining despite the rebound in sales in Q3 2017 compared to Q2 2017. Sales decreased by 11% to TND132.5m. This decline is due mainly to the -77% deterioration in exports compared to a year earlier. On the other hand, sales on the local market stabilised at TND95m. Capex fell by 40%, from TND15m to TND9m. On the other hand, the cement maker’s debt increased to TND517m on 30/09/2017 against TND514m on 31/12/2016, an increase of 0.6%.
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