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 MAD106m against MAD79m during 2015. This was mainly due to a cost rationalisation program. Thus, the attributable net income increased by 8% to reach MAD66m vs. MAD69m expected by AlphaMena.The proposed dividend was set at MAD23 (vs. MAD22 expected by AlphaMena) against MAD20 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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