FINANCIAL MARKET HEADLINES
| MOROCCO | SNEP | The GM decides not to distribute dividends for the FY 2019
The Ordinary General Meeting of SNEP, held on June 24th 2020, decided as a precautionary measure to not distribute FY 2019 divi-dends and to allocate the net income to retained earnings. Recall that the DPS initially proposed was set at MAD 7.
Meanwhile, the company raised its bleach production capacity by 25% to meet the country's exceptional needs in the current con-text of the Covid-19 health crisis.
| MOROCCO | CARTIER SAADA | Net income down 46% during the FY 2019/2020
| Indicators (MAD Mn) | 2018/2019 | 2019/2020 | Change |
|---|---|---|---|
| Revenues | 146 | 187 | 28% |
| Net income | 6 | 3 | -45,90% |
| Net Margin | 4,00% | 1,70% | -2,3pts |
| DPS MAD | 1 | 0 | - |
ECONOMIC HEADLINES
| SENEGAL | FOREIGN TRADE | Widening of the trade deficit at the end of April 2020
According to the National Agency for Statistics and Demography of Senegal (ANSD), exports amounted to FCFA 727.1 Bn at the end of April 2020, up 2.0%. For their part, imports amounted to FCFA 1,512.3 Bn rising by 17.5% during the same period. In this context, Senegal's trade deficit settles at FCFA -785.2 Bn at the end of April against FCFA -574.4 Bn during the same period of 2019.
