Poulina Group, a Tunisian holding company led by prominent businessman Abdelwaheb Ben Ayed, has revealed that revenue from operations surpassed $300 million at the end of the first quarter of its 2022 fiscal year.
According to the Tunisian holding company’s activity indicator, its consolidated revenue increased by 16 percent from TND788 million ($261.7 million) in the first quarter of 2021 to TND916.6 million ($304.4 million).
The increase in revenue was driven by strong growth in both local and export sales, as well as an impressive performance across all of its business lines, with the exception of retail, which fell by four percent due to a decrease in Tunisia, its home market.
Poulina Group invested TND29.82 million ($9.9 million) in its operation during the first quarter of 2022, 78-percent more than its investment of TND16.8 million ($5.58 million) last year, in an effort to put the group on a path of sustainable growth as it moves to expand its operations in the post-pandemic era.
The investments made during the period were made to increase capacity in 2022, as the group invested heavily in the expansion of slaughterhouses and breeding centers in its poultry integration project, as well as the expansion of ceramic factory capacity through the acquisition of new equipment.
Poulina Group is a Tunisian conglomerate that is active in real estate, public works and infrastructure, wood and home appliances, and mass consumer products.
Ayed, the Tunisian businessman who was instrumental in the expansion of Poulina Group, owns a beneficial 3.4-percent stake in the conglomerate.
In 2021, the Ben Ayed-led group recorded a 22-percent increase in revenue beyond the TND3 billion ($1.1 billion) mark.
The double-digit surge in revenue year-on-year was driven by a 53-percent increase in export sales from TND250.1 million ($87 million) to TND383.13 million ($133.2 million), as a robust rebound in business activity led to a spike in sales.