Morocco: Cimar sees 10% net profit rise in 1H15

Ciments du Maroc (Cimar) reported a 7.6 per cent YoY rise in turnover to MAD1.93bn (US$197m) for the first half of 2015. The positive sales figures in Doukkala-Abda region, which advanced by 20.4 per cent,  contributed significantly to keep sales stable for the Moroccan cement producer, despite a 1.3 per cent contraction in the domestic market.

In addition, the company also benefitted from a 27 per cent rise in ready-mix concrete and aggregates sales in this period when compared with 1H14.

In terms of profits, the consolidated net profit reached MAD501m, a 10 per cent advance on 1H14 while operating margins edged up 0.34 per cent to 29.08 per cent.