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Morocco's Managem Group reach USD96m net profit
(MENAFN) The Moroccan Managem Group was revealed to have ended 2017 with USD96 million net profit, recording a 204 percent increase.
The group's net income was driven by a number of factors, including a USD100 million agreement for the sale of 61 percent stake from Lamikal to China's Wanbao.
Morocco's Managem also recorded a 19 percent boost in its sales, as they reached a total of USD565 million at the end of last year.
It also achieved USD145 million in its operational profits, marking a 99 percent increase as it witnessed growth in sales and structural profits.
The group's net income was driven by a number of factors, including a USD100 million agreement for the sale of 61 percent stake from Lamikal to China's Wanbao.
Morocco's Managem also recorded a 19 percent boost in its sales, as they reached a total of USD565 million at the end of last year.
It also achieved USD145 million in its operational profits, marking a 99 percent increase as it witnessed growth in sales and structural profits.
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