(Adds details on Africa businesses)
RABAT Feb 27 Maroc Telecom, Morocco's largest
telecom operator, said on Monday its 2016 net profit
attributable to shareholders was flat at 5.59 billion dirhams
while revenues were boosted by African subsidies.
Excluding restructuring expenses for a voluntary redundancy
plan, 2016 earnings rose by 3.2 percent from a year earlier to
5.77 billion dirham.
The company, controlled by UAE's Etisalat Group, said
consolidated revenue rose 3.3 percent in 2016 from a year
earlier to 35.25 billion dirhams on domestic revenues and steady
Maroc Telecom Chairman Abdeslam Ahizoune said in a statement
the 2016 fiscal year "exceeded expectations."
Mobile revenue in Morocco, its main source of income,
dropped by 1.1 percent though overall revenue in Morocco rose 1
percent. Its customer base grew by 6.3 percent to more than 54
million customers, largely due to a 10 percent growth of its
African subsidiaries' customer base.
Revenue from Maroc Telecom's international activities grew
9.4 percent, where mobile growth grew by 75.2 percent in Niger,
32.8 percent in Ivory Coast, and 15 percent in Togo.
Etisalat bought Vivendi's 53 percent stake in Maroc Telecom
in 2013 for 4.2 billion euros ($5.7 billion), and as part of the
deal Maroc Telecom acquired six African assets from Etisalat.
($1 = 10.0740 Moroccan dirham)
(Reporting by Samia Errazzouki; editing by Patrick Markey)