Morocco’s state-owned phosphates giant (OCP) said its revenues grew 14% in 2017 to reach 48.5 billion dirhams compared to 42.48 billion in 2016. OCP’s phosphates rock sales increased 40% while the group’s revenues from selling fertilizers jumped 24% compared to 2016. In 2017, fertilizer sales totaled 54% of the Group’s turnover, while phosphate rock and phosphoric acid took 21% and 15% respectively. The Group’s EBITDA remained stable in 2017 with a slight decrease of its margin by 26% compared to 2016. The company’s comprehensive income stood at 4.7 billion dirhams in 2017 against 3.5 billion in 2016.

Source: The North Africa Journal March 23, 2018 17:03 UTC