Ciments du Maroc posts net loss of MAD-155m

Ciments du Maroc announced a MAD1.2bn (US$118.7m) improvement in its net loss to MAD-155m in 2016. Operating income reached MAD1.292bn in 2016, a 9.8 per cent increase when compared with the previous year.

The fall in losses is due to the increase in the weighted average cost of equity and to an impairment provision of the company’s stake in Suez Ciments of MAD1.253bn.

In addition, the company's domestic sales edged up by 0.7 per cent, bucking the overall market trend which slipped 0.7 per cent. Export sales significantly increased, impacting positively on the company results. Therefore, operating revenues reached MAD3.854bn, a three per cent advance YoY.