Intriguing revenues' growth
At the end of March 2016, CITY CARS announced revenues of TND35.1m, posting a slight 6.5% increase. Nevertheless, the dealer’s gross profit gained 14.16% to stand at TND5.3m. Hence, the gross margin added 100 basis points to 15.1%. Over the same period, staff expenses amounted to TND0.48m, i.e. a 4.3% increase.The dealer’s net cash position accused a sharp decline of 39.5% to establish at TND32.5m due to the engaged expenses for the construction of City Cars’ new headquarter, which will be ready for the beginning of the 2nd quarter 2016.
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