RABAT, July 24 (Reuters) – Morocco-based Maroc Telecom on Tuesday posted a 22 percent drop in first half net profit to 3.13 billion dirhams ($345.6 million) due mostly to provision costs for a voluntary redundancy plan and lower sales in its main domestic market.
Vivendi’s most lucrative affiliate outside France said sales inched down 1 percent in the first half to 15.17 billion dirhams after lower tariffs cut its sales in Morocco by 5.3 percent, while sales at African operations rose 21 percent.
The firm hopes to raise its EBITA margin, or operating margin, to “around 38 percent by the end of 2012” from 34 percent at the end of June, 2012.
($1 = 9.0509 Moroccan dirhams) (Reporting By Souhail Karam)
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