The operator, which is also the biggest mobile company in the kingdom, managed to increase its profit more quickly than its revenue, which grew by 10 per cent to MD14.3bn in the first half of the year.

Maroc Telecom’s home market continued to grow modestly compared with other North African and Middle Eastern economies.

The company’s mobile phone customers base grew by 21 per cent to reach 14.2 million by the end of June (MEED 23:07:08).

Its only rival in the Moroccan market, Meditel, has yet to report its results. Meditel’s two largest investors are the Spanish telecoms giant Telefonica and Portugal Telecom, which both own 32 per cent stakes in the company.