Moroccan conglomerate reports 6.6% rise in sales

Moroccan conglomerate (Omnium Nord Africain) reported a consolidated sales of 25.9 billion DH (US$ 2.6 billion) in 2002, posting a 6.6% rise compared to the 2001 sales (24.3 billion).

The result reflects the continuation of ONA's development programs, mainly in retail and the agro-food industry.

Chairman and CEO of the conglomerate, Jai Hokimim told a press conference on Thursday the group's consolidated self-financing ability also progressed by 3.5% from 3.45 billion DH to 3.5 billion, while its net indebtedness decreased by 18.1%, from 3.2 billion DH to 2.6 billion DH.

As a result of this positive evolution of various indicators, the value of dividends improved by 10%.

For this year's perspectives, the group expects to maintain its activity development and indicators improvement in its basic activities, mainly mining, agro-food, beverages, retail and finance.