Maroc Telecom revenues up 6% in the first half of 2010
Wednesday, July 28th, 2010
Maroc Telecom, Morocco’s incumbent and largest telco, has reported results for its first half and second quarter ended June 30th. During the semester, revenues increased by 6% to MAD 15.5 billion year on year and by 7.7% to MAD 8.0 billion in the second quarter year on year. In addition, operating income increased by 1.8% to MAD 6.7 billion in the first half and by 2.9% to MAD 3.5 billion in the second quarter. This growth is attributable to the group’s domestic market resilience and the solid performances of its subsidiaries according to the operator’s press release.
The group’s customer base increased by 20% year on year to 23.6 million subscribers, which reflects a continuing sustained growth in the Mobile customer base in Morocco (up 11.3%) and in Africa, where it settled at nearly 5.6 million, up over 76% year on year.
On the other hand, net earnings fell 4.1% year on year to MAD 4.46 million due to higher financial charges related to investments in networks and the acquisition of Sotelma.