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Label Vie Q2 profit climbs 58.8% YOY

Label Vie S.A. said its normalized net income for the second quarter amounted to 20.0 million dirhams, an increase of 58.8% from 12.6 million dirhams in the year-earlier period.

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

The normalized profit margin climbed to 1.2% from 0.8% in the year-earlier period.

Total revenue increased 6.8% on an annual basis to 1.63 billion dirhams from 1.52 billion dirhams, and total operating expenses increased 6.2% year over year to 1.57 billion dirhams from 1.48 billion dirhams.

Reported net income totaled 21.5 million dirhams, compared with 12.5 million dirhams, or 4.90 dirhams per share, in the prior-year period.

As of Nov. 24, US$1 was equivalent to 10.03 Moroccan dirhams.