Saturday, November 23

Morocco’s Alliances Developpement Expects Significant Drop In 2014 Profit

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Reuters

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Moroccan property company Alliances Developpement said on Monday its 2014 revenue would fall around 20 pct and it expected a significant drop in net profit.

The company said net profit would fall to 130 million Moroccan dirhams ($13.7 million) from 530 million in 2013, citing the economic slowdown and a liquidity shortage in the Moroccan market as a reasons.

($1 = 9.4715 Moroccan dirham)

(Reporting by Aziz El Yaakoubi; Editing by David Holmes)

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