A difficult start to the year
Mg (parent company) posted a rather stable Q1 2017 turnover of TND192.42m, with a limited increase of 0.22%. The gross margin increased by 40 bps to 18.1%. The staff costs increased by 10.3% to TND16.796m, due to the new openings (85 outlets at the end of March, 2017 vs. 83 outlets at the end of December, 2016). The staff costs/sales ratio increased by 80 bps to 8.7%. Financial costs amounted to TND3.672m in Q1 2017 vs.
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