Ciments du Maroc, one of Morocco’s leading cement companies with 27.3 per cent market share, increased sales by 9.1 per cent last year but higher transport costs stunted its profit growth.
Its sales rose to 3.1Mt, 9.1 percent higher than in 2005, worth 2.084 billion dirhams ($249.1 million) versus 1.921 billion dirhams in 2005, according to the company’s figures.
Net profit was barely changed at 525 million dirhams last year compared with 524 million in the previous year. The firm blamed the stagnation in profit despite higher sales on rising energy and transport costs because of soaring imported oil prices.
Ciments du Maroc and other cement companies in the country benefited from a construction boom amid economic growth of 8.1 percent for 2006. Ciments du Maroc said it sees "good prospect" for the construction business this year with "strong increase in cement sales" but gave no figures.