Reuters
by Samia Errazzouki
Moroccan property developer Alliances Developpement posted a net profit of 144 million dirhams ($14 million) in 2016, recovering from a record loss of 1.8 billion dirhams in 2015 after a debt restructuring.
Alliances’ debt dropped by 50 percent to 1.78 billion dirhams in 2016, from 3.43 billion dirhams in 2015, the company said in a statement published in L’Economiste newspaper on Friday.
(Reporting by Samia Errazzouki; editing by Alexander Smith)
