(Ecofin Agency) - The civil engineering and telecom revenues of diversified group Servicom respectively recorded year on year decrease of 58% and 50% during Q1, 2019.
The group’s civil engineering revenues decreased from TND8.2 million at end-March 2018 to TND3.5 million during the same period in 2019.
In the telecom sector, its revenues were TND927,000 at end March 2018 while at end March 2019, they were TND459,000.
These results affected the group’s consolidated results which reached TND8 million, representing a 43% decrease compared with the TND13.9 million recorded a year earlier.
The group listed on Tunis stock exchange has therefore decided to progressively exit telecom and civil engineering sectors and concentrate on lift manufacturing and the distribution of air conditioning equipment. Despite slightly negative performances it recorded in those two activities (lifting and air-conditioning distribution), Servicom explains that they are strong value-added activities for the group.