Do More With Reuters
Partner Services

Maroc Telecom Q1 operating income up 9.1 pct

Fri May 9, 2008 11:18am IST
 
Email | Print | | Single Page
[-] Text [+]

PARIS, May 9 (Reuters) - Maroc Telecom (IAM.PA: Quote, Profile, Research) on Friday posted a 9.1 percent rise in first-quarter operating profit, helped by solid sales growth and cost control, and confirmed its full-year outlook.

Morocco's dominant telecoms operator, which is controlled by the French entertainment group Vivendi (VIV.PA: Quote, Profile, Research), made an operating profit of 3.104 billion Moroccan dirhams ($416.5 million) in the three months to March 31.

"These results confirm our annual forecasts and have been achieved in a context of huge growth of mobile services," and despite the rising cost of living in the group's markets, Chairman Abdeslam Ahizoune said in a statement.

First-quarter revenues reached 6.97 billion Moroccan dirhams ($935.2 million), up 13.9 percent on 2007, or up 8.3 percent on a comparable basis. The operator's operating margin during the period came to 44.7 percent, a 1 percentage point rise against last year on a comparable basis.

Maroc Telecom competes with Spanish-Portuguese venture Meditel and with Wana, owned by national conglomerate ONA (ONA.CS: Quote, Profile, Research). (Reporting by Astrid Wendlandt, editing by Will Waterman)

Russian Finance Minister Alexey Kudrin poses with his G20 colleagues and central bank leaders during the family photo at the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland. REUTERS/POOL New
Pledge to support economies

G20 financial leaders pledged to prepare strategies to end emergency support for their economies, but to keep the aid flowing until recovery was assured.  Full Article | Related Story 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

SHOWCASE

Sanjay Sinha
Balancing Act

In India, it is a tough choice between growth, managing inflation and financial stability.  Full Article 

 
Nipun Mehta
Road to Recovery

There needs to be an acceptable balance created between education and healthcare and infrastructure spend, says Nipun Mehta of SG Private Banking.   Full Article 

 
Robot Asimo

Snapshots of Honda Motor's humanoid robot Asimo  Slideshow 

 
Marketing Strategy
Marketing Strategy

Companies are now using direct marketing methods to sell their products.  Full Article 

 
Exit Plans
Exit Plans

Factbox - Stimulus exit plans for Asia-Pacific's big 5 economies  Full Article