Sales of Morocco's ONA Posts 10.7% Increase

Morocco's Omnium Nord Africain (ONA), the largest private holding, announced that its consolidated sales has reached 24.3 billion DH (2.4 billion Euros) in 2001, progressing by 10.7% compared to 2000.

The performance was scored despite a difficult year marked by effects of the Sept.11 events and a third consecutive of drought, said ONA president and CEO, Mourad Cherif.

Meanwhile the group's consolidated operation result grew by 6.3% and the group's net result progressed by 5%.

The good performance was made possible by the opening of new supermarkets and the development of activities in those opened in 2000, as well as the good results of the conglomerate's major enterprises, mainly those operating in agro-food and beverages.

The group's consolidated indebtedness reached up to December 2001 3,505 Million DH, compared to 4,956 million DH in December 2000, while the net indebtedness-consolidated funds ratio stood at 17.8%, compared to 28.9% in December 2000, said Cherif.