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Label Vie H1 profit climbs 70.2% YOY

Label Vie S.A. said its first-half normalized net income was 68.1 million dirhams, a gain of 70.2% from 40.0 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 6.6% on an annual basis to 3.47 billion dirhams from 3.26 billion dirhams, and total operating expenses rose 5.6% on an annual basis to 3.32 billion dirhams from 3.14 billion dirhams.

Reported net income totaled 68.8 million dirhams, compared with 43.0 million dirhams in the prior-year period.

As of Sept. 23, US$1 was equivalent to 9.72 Moroccan dirhams.