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Poulina Group, a Tunis-based conglomerate led by multimillionaire businessman Abdelwaheb Ben Ayed, has released its trading update for the fourth quarter of its 2022 fiscal year, revealing robust revenue growth as the group continues to capitalize on its broad operation.
According to the recently released trading update, the group led by Ayed experienced a significant 15-percent increase in revenue, rising from TND3.3 billion ($1.08 billion) in the previous fiscal year to TND3.8 billion ($1.24 billion).
The primary driver of the double-digit surge in the group’s revenue was the combined effect of a 13-percent increase in local sales, which reached a staggering TND3.3 billion ($1.08 billion), and a 27-percent increase in export sales, totaling TND487.6 million ($159.7 million).
This outstanding increase in sales can be attributed to the company’s exceptional ability to capitalize on new market opportunities and nurture strong relationships with existing customers. It also highlights the company’s proficiency in managing its production processes and effectively meeting the demands of its customers.
In addition to this impressive growth in sales, the group also saw a significant increase in production value. Specifically, production value increased at the same rate as turnover, or 15 percent, from TND3.3 billion ($1.08 billion) to TND3.8 billion ($1.24 billion) between December 2021 and 2022.
On the other end, the group’s outstanding bank debt has significantly increased by 38 percent over the course of one year, rising from TND911 million ($298.3 million) at the end of December 2021 to TND1.26 billion ($412.6 million) at the end of December 2022.
Poulina Group is a Tunisian conglomerate with interests and active operations in real estate, public works and infrastructure, wood, home appliances, and mass consumer products.
Ayed, a Tunisian businessman who was instrumental in the group’s expansion, owns a beneficial 3.4-percent stake in the conglomerate. The stake makes him one of the wealthiest investors on the Tunis Stock Exchange.
