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Société des Brasseries du Maroc H2 profit climbs 49.0% YOY

Société des Brasseries du Maroc SA said its normalized net income for the second half amounted to 193.4 million dirhams, a rise of 49.0% from 129.8 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 6.7% year over year to 1.32 billion dirhams from 1.24 billion dirhams, and total operating expenses declined year over year to 1.01 billion dirhams from 1.03 billion dirhams.

Reported net income totaled 178.8 million dirhams, compared with 176.7 million dirhams in the year-earlier period.

For the year, the company's normalized net income totaled 271.4 million dirhams, an increase of 27.0% from 213.6 million dirhams in the prior year.

Full-year total revenue amounted to 2.27 billion dirhams, compared with 2.26 billion dirhams in the prior year, and total operating expenses fell year over year to 1.83 billion dirhams from 1.91 billion dirhams.

The company said reported net income came to 263.3 million dirhams in the full year, compared with 249.4 million dirhams in the prior year.

As of April 15, US$1 was equivalent to 9.68 Moroccan dirhams.