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Les Eaux Minérales d'Oulmès H1 profit climbs 36.8% YOY

Les Eaux Minérales d'Oulmès S.A. said its first-half normalized net income amounted to 73.4 million dirhams, an increase of 36.8% from 53.7 million dirhams in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue rose 14.3% on an annual basis to 794.1 million dirhams from 695.0 million dirhams, and total operating expenses rose 10.9% on an annual basis to 663.6 million dirhams from 598.2 million dirhams.

Reported net income grew 43.4% from the prior-year period to 77.9 million dirhams, or 39.36 dirhams per share, from 54.4 million dirhams.

As of Oct. 7, US$1 was equivalent to 9.74 Moroccan dirhams.