Maroc Telecom to stay on growth track in 09-chairman

RABAT, Feb 24 (Reuters) - Maroc Telecom, Morocco's leading telecoms group, will stay on a strong track of growth this year despite greater competition, company chairman said on Tuesday.
"Our performance for this year will be good. Our business will remain on a strong path of growth. We have invested in new services that will generate more growth," Chairman Abdeslam Ahizoune told a news conference on Tuesday.
Maroc Telecom (IAM.PA), which is 54-percent owned by Europe's top entertainment group Vivendi (VIV.PA), said on Monday evening that its 2008 net profit rose 18.5 percent year-on-year to 9.5 billion dirhams ($1.10 billion). [nN23379665]
Ahizoune dismissed speculations by analysts that the arrival of a new competitor in the mobile-phone market could trim Maroc Telecom's profitability, which comes mostly from its mobile operation.
"We welcome more competition in the market, which would improve the growth of the telecoms sector. We have more room to cut prices and benefit consumers," he said. Wana, the telecoms arm of Morocco's biggest conglomerate ONA (ONA.CS) won the contract for the country's third wireless phone network earlier this month.
Ahizoune reiterated that the company expected revenue to grow by more than 3 percent this year and said the margin of its earnings from operations would remain as high as the 47 percent posted last year.
Marco Telecom (IAM.PA) shares rose nearly 4 percent on the Casablanca bourse on Tuesday.
The group's conslidated earnings from operations were up 13.5 percent to 13.9 billion dirhams and revenue grew 7.2 percent to 29.5 billion dirhams as it expanded its mobile customers by 12.5 percent to 17.1 million. ($1=8.612 Moroccan Dirham) (Reporting by Lamine Ghanmi; editing by Karen Foster)

Depa subsidiarywins $50m contract in Morocco

Published: February 24, 2009, 23:04
Dubai: Depa Limited, one of the largest providers of interior contracting services worldwide, has announced that its Moroccan subsidiary DepaMar has been awarded a $50-million (Dh183 million) order by Kerzner International Developments at the Maz-agan Resort villas in El Jadida, on Morocco's Atlantic coast.
Yesterday's announcement marks the second contract for DepaMar at Mazagan Resort, having been previously awarded the fit-out works for the resort's five-star hotel, golf club house, entertainment centre and the health club and spa in July 2007.
The project is now Depa-Mar's largest project to date in Morocco, totalling $93 million (Dh341 million) and is due for completion by June 2010.
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"This is our second order for the Mazagan Resort and further strengthens our position in Morocco, which is a key market for us and fits with our wider strategy of geographical diversification that we have undertaken over the last few years," said Mohannad Sweid, CEO of Depa.
"We are delighted to be awarded this [contract] by Kerzner International Developments, with whom we have an excellent working relationship, following the successful completion of Atlantis The Palm in September last year. This is yet another example of how our track record of delivering high-quality work to clients on time and on budget continues to win us prestigious projects."
The projects Depa has won are part of the first phase of Mazagan Resort, which will include a five-star hotel, an entertainment centre, numerous fine dining restaurants, retail shops, a health spa and an 18-hole golf course and club house.
DepaMar was established in 2006 to maximise the extensive opportunities for interior works in Morocco as part of Depa's geographical expansion strategy.

Phosphates and derivatives driving Morocco's exports up

Rabat, Feb. 2, 2009 (MAP)- Phosphates and derivatives continue to drive Morocco's exports up, standing at MAD 51.4 bln ($5.9 bln) in 2008, that is 33.4% of the overall commodity exports which reached MAD 154 bln ($17.8 bln), according to Morocco's exchange rate monitoring body (the Office des Changes).
The exports of these products have more than doubled, moving from MAD 22.3 bln ($2.5 bln) in 2007 to MAD 51.4 bln ($5.9 bln) last year, owing to the spike in prices on the international market, the body said in its monthly indicators of Morocco's external trade for the year 2008.
The average phosphates price has trebled to stand at MAD 1,497 ($173) per tonne, up from MAD 437 ($50.5) per tonne, between 2007 and 2008.
Morocco's exports other than phosphates and derivatives have only risen by 1%, standing at MAD 102.6 bln ($11.84 bln).
The phosphoric acid exports witnessed the same upward trend, jumping from MAD 9 bln ($1.04 bln) to approximately MAD 23 bln ($2.66 bln). This is traced back to the fact that the average price of the phosphoric acid has more than tripled, moving from MAD 4.004/T ($ 463) to MAD 14.080/T ($ 1,628).
Natural and chemical fertilizers exports have also gone up by 49.3%, worth some MAD 10.77 bln ($1.24 bln).
As far as services exports are concerned, they slightly increased by 0.6% on the previous year, netting around MAD 98.8 bln ($1.43 bln).
As regards imports, they have risen by 23.9%, standing at MAD 321.8 bln ($37.20 bln) at the end of 2008.
The trade balance of goods and services posted, by late 2008, a deficit of MAD 98.9 bln ($11.42 bln), an increase of 64.4%.
France, the first partner of Morocco, contributes 17.8% to the overall trade transactions of the kingdom, followed by Spain (12.5%), Italy (5.8%), Saudi Arabia (4.9%) and the United States (4.5%).