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.
