Lafarge Maroc has reported a slight decline in net profit for 2011 while operating profit also fell due to escalating input costs and stagnating cement prices.
The company said in a statement that net income for the year was MAD1.66bn (EUR148.8m) compared to MAD1.68bn in 2010, representing a fall of 0.9%. Consolidated sales rose from MAD5.35bn in 2010 to about MAD5.57bn in 2011, an increase of four per cent. Operating income in 2011 recorded a slight decline of 1.3 per cent, amounting to MAD2.37bn against MAD2.4bn a year earlier. This decrease is mainly due to increasing input costs against a backdrop of unchanged sales prices.
The Board of Directors, which met Tuesday, decided to propose the payment of an ordinary dividend of MAD66/share, equivalent to that paid the previous year.
