Significant progression in both revenues and gross margin
At the end of September 2016, City cars’ revenues reached TND46.5m, posting an important increase of 37.6%, yoy. The gross profit gained 40.7% to TND6.4m. Thus, the gross margin rate increased by 30 basis points to 13.8%.The company ended the nine first months of 2016 with a 17.4% revenue growth to TND117.6m. The gross margin increased by 21.6% to TND16.7m vs. TND13.7m a year earlier. Hence, the gross margin rate rose by 49 basis points to reach 14.21%.
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