Tunisian conglomerate Poulina Group, led by accomplished businessman Abdelwaheb Ben Ayed, has demonstrated impressive resilience in its Q1 2022 fiscal year performance, capitalizing on its broad operation.
The group’s recent trading update on the Tunis Stock Exchange revealed a seven-percent increase in revenue, reaching TND976.77 million ($321.15 million), compared to TND916.64 million ($301.4 million) in the previous year’s first quarter.
The growth was primarily driven by a combined effect of a six-percent rise in local sales, totaling TND853.4 million ($280.5 million), and an eight-percent increase in export sales, which amounted to TND123.4 million ($40.6 million).
The company’s remarkable performance can be attributed to its outstanding capability to seize new market opportunities, foster strong relationships with existing customers, and manage production processes with great proficiency, enabling them to effectively meet the demands of their customers.
Looking at the operating segments, the conglomerate’s food industry witnessed a growth of TND40 million ($13.15 million), reaching TND442.7 million ($145.63 million), which was largely driven by a 22-percent surge in export sales and a 9 percent increase in local sales.
Similarly, the Poultry business experienced a rise of TND35 million ($11.5 million), representing a 17 percent increase, reaching TND244.5 million ($80.37 million).
The growth was primarily attributed to a 19-percent increase in export sales and a 17-percent increase in local sales.
Poulina Group is a diversified Tunisian conglomerate with active operations in a wide range of industries, including real estate, public works and infrastructure, wood, home appliances, and mass consumer products.
Ben Ayed, a prominent Tunisian businessman who played a crucial role in the conglomerate’s expansion, owns a significant 3.4-percent stake in the company, making him one of the wealthiest investors on the Tunis Stock Exchange.
