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Auto Nejma Maroc H1 profit climbs 32.3% YOY

Auto Nejma Maroc SA said its normalized net income for the first half amounted to 56.2 million dirhams, a rise of 32.3% from 42.4 million dirhams in the year-earlier period.

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

Total revenue grew 15.0% on an annual basis to 776.5 million dirhams from 675.4 million dirhams, and total operating expenses climbed 13.3% on an annual basis to 688.4 million dirhams from 607.6 million dirhams.

Reported net income came to 61.8 million dirhams, compared with 47.0 million dirhams in the year-earlier period.

As of Sept. 29, US$1 was equivalent to 9.71 Moroccan dirhams.