Robust despite a tough backdrop
Disway’s FY2016 revenues were up by 10% to MAD1.809bn (MAD1.794bn estimated by AlphaMena) vs. MAD1.646bn as of 31/12/2015. The company’s operational income rose by 34% to 106 MADM against 79 MADM during 2015. This was mainly due to a cost rationalisation program. Thus, the attributable net income increased by 8% to reach 66 MADM vs. 69 MADM expected by AlphaMena.The proposed dividend was set at 23 MAD (vs. 22 MAD expected by AlphaMena) against 20 MAD a year earlier.
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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