real estate

Tunisia: real estate developer SIMPAR suffers its 4th consecutive loss in 2021

April 16, 2022

The «société immobilière et de participations » (SIMPAR) has published its financial statements as of December 31, 2021 as they will be submitted for approval by the Ordinary General Assembly. These statements show a net loss of 2.8 million dinars, against a loss of 2.9 million in 2020.

Real estate developer therefore went to suffer its fourth consecutive deficit year and brings the total of its cumulative losses to nearly 6.5 million dinars.

In 2021, the company achieved a turnover of 15 million dinars, against 12.5 million a year earlier, a growth of about 19%. On the other hand, operating expenses increased by 32% to 13.9 million dinars against 10.5 million in 2020.

Consequently, the operating result for the period fell by 47% to 1.1 million dinars, against 2 million dinars at the end of December 2020.

The net result was strongly penalized by the net financial expenses which stood at 3.9 million dinars last year against 4.9 million in 2020.

africanmanager

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