Maroc Telecom upbeat despite financial declines

27 Feb 2012

Maroc Telecom has released its financial results for the year ended 31 December 2011, with revenues falling by 2.5% to MAD30.84 billion (USD3.61 billion) and net income down 14.8% at MAD8.12 billion. The firm attributed the declines to ‘the unfavourable regulatory environment and intense competition’, but said the results were in line with targets after concentrating its efforts in 2011 on offering ‘lower prices, innovation, and network quality’. Group customers were up 12% year-on-year to 29 million, across all operations. The domestic mobile business saw subscriber numbers increase 1.4% to 17.13 million, while there was a 0.8% rise in fixed line customers in Morocco to 1.24 million. The domestic broadband internet customer base rose from 497,000 to 591,000 during 2011. Internationally, Maroc Telecom’s activities generated revenues of MAD6.07 billion, up 8.9% year-on-year, with mobile subscriptions in Mauritania, Burkina Faso, Gabon and Mali growing 41%.

Morocco,Maroc Telecom (IAM),

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