Industrial giant reports 14 per cent rise in turnover

16 November 2007

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.

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