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Lesieur Cristal H1 profit falls YOY

Lesieur Cristal S.A. said its normalized net income for the first half amounted to 2.62 Moroccan dirhams per share, a decline of 45.4% from 4.80 dirhams per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 81.3 million dirhams, a decline of 33.7% from 122.5 million dirhams in the year-earlier period.

Total revenue fell on an annual basis to 1.92 billion dirhams from 2.00 billion dirhams, and total operating expenses fell from the prior-year period to 1.79 billion dirhams from 1.85 billion dirhams.

Reported net income fell 8.8% from the prior-year period to 93.0 million dirhams, or 3.00 dirhams per share, from 102.0 million dirhams, or 4.00 dirhams per share.

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