Casablanca water, power management company scores $ 390 mln in sales
Morocco, Business, 4/11/2001
The Lyonaise des Eaux (Lydec) company, which manages water and power distribution in Casablanca, said it scored sales worth $ 390 million in 2000.
The company also posted a profit of $ 10.7 million in the same year, the company's governing board said.
The profit recorded in 2000 helped make up for the losses incurred in the previous years before Lydec took up the management of water and power management in Casablanca.
The losses were estimated at $ 11.6 million, the company said.
The company also said it injected at the end of 2000 some $ 110 million in investment projects.
Lydec said a study showed that the company it now satisfies the needs of its subscribers at 90 percent at the end of last February.
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