Morocco’s largest industrial and financial conglomerate, ONA Group, has reported a 14 per cent rise in turnover for the first nine month of the year, following the launch of a telecoms arm and new supermarket openings.
Turnover reached MD24.4bn ($3.1bn) in the nine months to 30 September, compared to MD21.3bn ($2.7bn) for the same period in 2006. Third-quarter sales were up 16 per cent year-on-year, to MD9.16bn ($1.2bn)
Retails sales for the first nine months of the year were up 22 per cent to MD11.5bn ($1.5bn), helped by the opening of two supermarkets in the third quarter.
Telecoms revenues for the same period grew more than 500 per cent to MD438m ($56.5m), following the launch of mobile, fixed-line and internet services.
One of the largest and most heavily-traded assets on the Casablanca stock exchange, ONA is controlled by the kingdom’s royal family.
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.