The turnover of the agro-industrial group in Morocco, Lesieur Cristal, is down by 11%, to MAD 926 million dirhams in the third quarter of 2019 against MAD 1.037 million in the same quarter of the last financial year.
This result can be explained by the slowing of sales during the summer period and the fall in selling prices as a result of the decline in oil purchase prices, the company said in its quarterly results.
At the end of the first nine months of 2019, the turnover of the group decreased from MAD 3,267 million at the end of September 2018 to MAD 2,872 million at the end of September 2019. In addition, the quarter saw the recovery of the activity in trituration for the processing of sunflower and rapeseeds from the national campaign.
The third quarter was generally marked by a slowdown in commercial activity induced by the deceleration of household consumption, a good behavior of sales of olive oil for export and a low level of exports of table oils.