CASABLANCA- Power company Taqa Morocco, owned by Abu Dhabi National Energy Co, reported a 3.4 percent rise in 2018 net profit after it increased production at its six plants.
Taqa Morocco is the North African country's largest independent electricity provider and operates the biggest coal-fired power plant in the Middle East and North Africa.
It said its net profit attributable to shareholders totalled 1.04 billion dirhams ($109 million) for 2018 as total revenues rose 5.3 percent to 8.08 billion dirhams despite a rise in coal prices in the international market.
Operating income increased by 2.6 percent to 2.64 billion dirhams as the company, helped by improved efficiency regarding maintenance costs and other areas.
The Casablanca-listed company proposed an annual dividend of 40 dirhams per share, the same as last year.
(Reporting by Ahmed Eljechtimi; Editing by Susan Fenton) ((email@example.com;))