Benefiting from higher production levels and the strengthening of the dollar
Over H1 2015, Managem's revenues reached MAD2280M, i.e. an annual rise of 21%. This increase is explained by higher production levels and by the strengthening of the dollar which helped offset the decline in the metal prices.Indeed, H1 2015 was marked, on the international scale, by a difficult economic situation which strongly impacted raw material markets: silver, copper and gold fell by 17%, 14% and 7%, respectively. The starting of operations at new projects, as well as the improvement of the operational performances, substantially increased the productions of: cobalt (46%), Gold (29%), Copper (9%) and Zinc (4%).
The company announced a MAD72M increase in its operating profit, reflecting the progress of the top line and production levels.
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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