Moroccan market sees strong first-half recovery

Moroccan market sees strong first-half recovery
23 September 2011

The market for cement in Morocco has witnessed a strong, recording growth of 7.2% in the first-half of 2011, said Vice Chairman of the Board of the Holcim Group Morocco, M. Abdeljalil El Hassani Sbai

This improvement is attributed to tax incentives for the social housing sector. The rate of growth of the sector is very satisfactory, which has put Morocco in a good position in comparison with neighbouring countries including Spain, he said in a statement on the sidelines of the presentation of the results of Holcim Morocco.

Previously, the Chief Executive of the cement group, Dominique Drouet, announced an 8% decline in sales of Holcim Morocco in June 2011 with one MAD1.815bn against MAD1.976bn in the same period last year. 
Net income fell 16% to MAD413,524,000 at June-end against MAD491,604,000 in the first six months of 2010.

Holcim Morocco recorded a 11% decline in cement with 1.69Mt during the first six months of the year against 2Mt during the same period in 2010, he said. Published under Cement News