Tunisia-based Carthage Cement reported a 12 per cent YoY decline in its revenues to TND172.9m (US$72.2m) when compared with revenues of TND196.1m in 2016.

While sales in the domestic market slipped by two per cent YoY to TND125.2m, exports saw an 80 per cent contraction to TND4.4m. Tunisian exports to Algeria, where a rapid capacity build-up has affected imports, have fallen by some 79 per cent YoY.

The company invested some TND12.26m in 2017, down 40 per cent when compared with the previous year.

Carthage Cement’s debt increased by two per cent YoY to TND525m.