Maroc Telecom’s net income down on voluntary redundancy costs

25 Jul 2012

Maroc Telecom has recorded net income of MAD3.13 billion (USD344 million) for the first six months of 2012, down 22% year-on-year following voluntary redundancy costs and declining sales in its home market. Revenue in Morocco slipped 5.3% to MAD11.9 billion in the wake of increased competition, although this was almost entirely offset by a 21% gain in sales from its subsidiaries in Burkina Faso, Gabon, Mali and Mauritania. The provision for the redundancy programme launched in June came in at MAD800 million, and has to date seen 800 employees leave the company. The Vivendi-owned telco says the number may rise further by the end of 2012.

Morocco,Maroc Telecom (IAM),

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