Carthage Cement reports positive 1H24 results

The Tunisia-based Carthage Cement accelerated its growth rate in the second quarter of this year compared to the first, said the company in a statement. This positive growth dynamic led to a turnover of TND212m (US$68.19m) as of 30 June 2024, up two per cent from the same period in 2023.

At the end of 1H24, Carthage Cement’s total revenue from cement operations reached TND196m, compared to TND190m on 30 June 2023, marking an increase of 3.5 per cent. This is the result of a 10 per cent increase in local turnover, despite a 30 per cent drop in export revenues, which was a result of the company’s decision to suspend clinker exports. Therefore, the company was able to sustain a market share of 26 per cent in this difficult environment.

Carthage Cement’s aggregates business raised its revenue to TND11.6m as of 30 June 2024, showing a three per cent increase from TND11.227m in the same period of 2023.

The company’s ready-mix operations saw a revenue decline of 36 per cent to TND4.6m in the 1H24, compared to TND7.2m for the 1H23.