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Centrale Danone: Group net income down 568% in 2018

Centrale Danone Group’s net income resulted in a loss of 538 million dirhams in 2018, a decrease of 653 million dirhams (-568%) compared with the previous year 2017, the company announced on Tuesday.

The consolidated current operating surplus at the end of December 2018 amounted to MAD 179 million and is consequently down 75% compared to 2017, says Centrale Danone in a financial statement published on the website of the Moroccan Authority of the capital market (AMMC), noting that the plan of economy of the charges launched, after the boycott which touched all its activities, did not make it possible to cover all of its fixed charges.

Consolidated sales for the year 2018 amounted to 4.76 billion dirhams, down 27% from the 2017 fiscal year, says the company.

“Faced with the unprecedented crisis that has hit Centrale Danone hard and its ecosystem since April 23, 2018, Centrale Danone continues to make every effort to meet the needs of its consumers by remaining an accessible brand and even more innovative, and by taking the necessary measures adapting its organization, allowing a gradual return to the path of profitable and sustainable growth. The financial results of the first half of 2019 will remain strongly penalized by the consequences of this crisis,” reads the statement.

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