Crippled by the tax adjustment
Lydec achieved a revenue of MAD7.105bn in 2016, an increase of 2.5% compared to 2015. The gross operating profit improved by 5.1% to MAD1.045bn compared to the end of December 2015. The distribution margin declined by 1.1% to MAD1.974bn. The Net result stands at MAD160m, down by 42.2% from 2015 figures, after taking into account the memorandum of understanding with the Directorate-General of Taxes for the settlement of a tax audit.
AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.
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