Lesieur Maroc Reports Stable Earnings

Lesieur Maroc consolidated revenue stabilized YoY yielding low single-digit growth at 1.2% and standing at MAD 4,033 million; and so did consolidated net income which stood at MAD 205 million.

Net margin was almost unchanged standing at 5.1% and reflecting the ability of the group to maintain margins in spite of very volatile commodity markets.

The earnings release mentioned that earnings ware stabilized amid an economic slowdown. This performance was achieved thanks a resilient business model strengthened by a large brand portfolio, effective cost optimization strategies and an improving exports activity.

Lesieur pursue their R&D efforts to develop their products portfolio. Indeed, this year were introduced to the market new Taous branded shampoos along with a new Al Horra branded extra virgin oil.

Looking forward, management believes that amid a very volatile environment, it will critical to sustain the group’s invocation efforts mainly in terms of cost optimization, as well as to pursue the development of strategic international projects.

For the Shareholders’ Meeting, the Board of Directors will propose the distribution of a dividend of MAD 5 per share.

Lesieur is a leading player in the Moroccan agribusiness sector. The group leads the edible oils market with a market share that hovers around 60% (2015 data).

Today, the group has diversified its business portfolio and manages four different segments which are edible oils, condiments, personal care products, and homecare products.

Source :Morocco World News