Morocco's phone operator sees sales on the rise

Morocco's phone operator, Maroc Telecom, on Tuesday said it posed a nine percent rise in its 2002 sales, which went up to 14.7 billion Dirham (US$ 1.47 billion) from 13.5 Billion Dirhams (US$1.35 billion) in 2001.

The operator's Chief Executive, Abdeslam Ahizoune, who was presenting the firm's results to the press, said Maroc-Telecom's net profit recorded a spectacular jump of 405 percent to stand at 3.7 billion dirhams, nearly US$ 370 million) against 0.37 billion dirhams in 2001.

The results allowed the company to continue its debt payment, said Ahizoune, announcing that Maroc-Telecom's balance-sheet is now featuring a positive result.

The operator's mobile phone pole maintained its upward trend, allowing the firm to grab 70 percent of the Moroccan market with 4.6 million customers at the end of 2002.

A second mobile phone license in Morocco is held by Meditel group. French Vivendi Universal Group holds 35% of Maroc-Telecom's capital.

Ahizoune deplored a fall in the number of subscribers to Maroc-Telecom's fixed phone to 1.1 million at the end of 2002. This decrease did not entail a shrink in the firm's fixed phone turnover, he said.

The company's Internet pole is also on steady rise, as the number of direct subscribers rose to 34,000, he said.