FINANCIAL MARKET HEADLINES
| MOROCCO | DISWAY | NIGS down 21% in 2022, ordinary DPS set at MAD 35
| MOROCCO | AUTO NEJMA | Net income up 28% in 2022, total DPS raised to MAD 125
| MOROCCO | SONASID | Profit warning
In a press release, Sonasid announces that its NIGS would decrease by 20% in FY 2022. Two main factors explain this decline :
- A drop in sales volume of 6% in a building material market down 11%;
- A non-recurring impact due to the revaluation of all deferred tax assets and liabilities (according to IAS12) as part of the increase in corporate tax provided by the 2023 FA.
ECONOMIC HEADLINES
| MOROCCO | FOREIGN TRADE | Reduction in the trade deficit in January 2023
In January 2023, imports of goods and services amounted to MAD 54.7 Bn, up 7.9%. Likewise, exports surged by 30.6% to MAD 47.5 Bn. To this end, the global trade deficit stands at MAD -7.2 Bn against MAD -14.3 Bn a year earlier. The overall coverage rate rose by 15 pts at 86.9%.
Travel receipts settled at MAD 8.2 Bn in January 2023 against MAD 1.1 Bn a year earlier. Likewise, worker remittances and receipts from FDI recorded respective increases of 46.3% and 65.9% to MAD 9.2 Bn and MAD 3.0 Bn.
Read More.
