2023-09-03 20:28:30
The overall turnover of the Casablanca coast, for the first half of 2023, shows an increase of 5.4%, thus reaching nearly 147.3 billion dirhams once morest 139.7 billion dirhams during the same one-year period. previously, or 7.5 billion dirhams of additional turnover, supported by a price effect.
In its new report “Evolution of half-year turnover H1-2023 of listed companies”, the stockbroker MS.IN underlines that this positive development occurs in a context marked by the continuity of the rise in inflation in 2023 under the effect particularly of supply shocks in Morocco on certain food products. This led to the continued tightening of monetary policy by Bank Al-Maghreb and, consequently, an upward trajectory of interest rates.
MSIN analysts also mention “the 2021-2022 agricultural campaign in Morocco which took place in difficult climatic conditions and the appreciation of the dollar once morest the euro which was negatively reflected in the exchange rate of the dirham”.
Sector contribution
Regarding the sectoral contribution, MS.IN indicates that the banking sector contributed the most to the increase in overall turnover in the first half of 2023 at 27% with an increase of 4.3 billion dirhams, despite a less favorable environment for interest rates.
Second place goes to the electricity sector, which recorded an increase of 1.5 billion dirhams (+26.1%), taking advantage of the operational efficiency of the various units, combined with the evolution of the price of coal in international level.
The distributors sector is, for its part, the third sector in terms of sectoral contribution with an additional turnover of 1.4 billion dirhams, driven in large part by LABAL Vie (+1.3 billion dirhams or +21.5%) which benefited from the favorable price effect induced by the inflationary context, and the acceleration of the pace of opening of supermarkets in connection with the diversification of distribution formats.
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