Strong incomes for SOTUVER
SOTUVER, the producer of hollow glass, which is 51 percent, owned by Chahed group, announces stronger income for the first half of this year of about TND 0.610 million compared to TND 0.347 million during the same period of 1999. Operating income has sharply grown up to TND 0,714 million, almost twice the 99's record.
In 1999 the company had suffered from an ailing turnover due to slower selling and exports stagnation in cups towards neighboring countries. However this year, it's expected a likely further improvement to look much different from the two previous years, as sales rebounded 25 percent to TND 6.6 million at end of June in wake of sustained production and faster sales. In previous reports, the company had made forecasts for full year sales at around TND 11.8 million and expected packaging costs to move lower.
Investments completed earlier this year in a new design unit would ramp up margins in face of a total cost of TND 0.5 million. — ( TUSTEX)
© 2000 Mena Report (www.menareport.com)
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