Ciments du Maroc posts 20% rise in net profit

Ciments du Maroc reported consolidated sales of MAD2.029bn in 1H17, up 1.1 per cent YoY. Consolidated EBITDA remained stable at MAD929m.

Net profit advanced by 19.8 per cent from MAD503m in 1H16 to MAD603m one year later, mainly due to a reduction in taxes.

The company said sales reflected the annual slide in sales volumes during Ramadan which saw deliveries fall 6.9 per cent when compared with 1H16. Nationally, cement volumes decreased 9.2 per cent. However, a significant rise in export volumes offset the domestic market contraction.