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Groupe Centrale Danone H1 profit climbs YOY

Groupe Centrale Danone said its first-half normalized net income came to 7.34 Moroccan dirhams per share, an increase from 2.76 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 69.0 million dirhams, an increase from 25.3 million dirhams in the year-earlier period.

Total revenue came to 3.32 billion dirhams, compared with 3.30 billion dirhams in the prior-year period, and total operating expenses fell from the prior-year period to 3.18 billion dirhams from 3.23 billion dirhams.

Reported net income grew on an annual basis to 47.0 million dirhams, or 5.00 dirhams per share, from 9.2 million dirhams, or 1 dirham per share.

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