Maroc Telecom 07 Net Pft +19%; Sees Op Pft Up Over 9% In 08 |
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Friday, Feb 22, 2008
PARIS (Dow Jones)--Moroccan telecommunications operator Maroc TelecomMaroc Telecom
(IAM.CL) Friday posted a 19% rise in 2007 net profit, propelled by its growing mobile phone operations and cost control, and said it expects operating profit to grow more than 9% in 2008.
Net profit at the Morocco's leading telecom operator, which is 53%-owned by Vivendi SA (12777.FR), increased to MAD8.03 billion from MAD6.74 billion in 2006. The company will propose a dividend of MAD9.20 a share at its shareholders' meeting April 17, the company said in a statement.
Operating profit in the quarter ended Dec. 31 rose 11% on the year to MAD2.72 billion from MAD2.45 billion. The company previously reported a 30% rise in fourth-quarter revenue to MAD7.21 billion. The company didn't give a breakdown of net profit by quarter.
Maroc TelecomMaroc Telecom, which also has operations in Mauritania, Burkina Faso, and Gabon, forecast operating profit growth of more than 9% in 2008 and revenue growth exceeding 7%.
-By Jethro Mullen, Dow Jones Newswires; 33 1 4017 1738; jethro.mullen@dowjones.com
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(END) Dow Jones Newswires
February 22, 2008 04:36 ET (09:36 GMT)
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