Q4, without "bad surprises"
Magasin Général (parent company) reported a slight increase by 1.23% in Q4 2016 sales to TND207.7m. Thus, the company posted an almost stable turnover of TND841.3m for the year (+0.8%). The gross margin increased by 160 bps to 17.0%. At the end of December, the staff costs increased by 7.92% to TND62.08m, bringing the staff costs/sales ratio to 7.4% (+50 bps). The workforce totaled 3,961 employees. The number of stores reached 83 units at the end of December 2016.
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