Moroccan post office's sales rises by 20.2% in 2002
Morocco, Business, 6/27/2003

The sales achieved by "Barid Al-Maghrib," Moroccan post authority, reached in 2002 1.09 billion DH (US$ 117.6 million), which is a rise of 2% compared to the figures of 2001.

The figures were released by Barid Al-Maghrib general manager during the company's administrative board meeting. He also said the state-owned company's financial results are on the rise.

The net profit went up from 130 million DH (US$ 13.9 million) in 2000 to exceed 153 million DH (US$ 16.4 million), but it sustained a 41% drop again in 2002 to stand at 91 million DH (US$ 9.7 million). The general manager explained that this regression was expected as the company embarked on a plan of voluntary departure of employees that implied significant financial loads to pay for compensations. The voluntary departure of 1,000 employees was part of a restructuring scheme started in 2000, he further explained.

Barid Al-Maghrib has also diversified its activities over the last two years by launching new products, including a new parcel delivery system, a Geographic Information System, a new savings service and various other new information and technology activities. The post authority is seeking to modernize its management tools, optimize its network and diversify services extended to the public and to enterprises.

Previous Stories:
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