Mutandis achieved a turnover of nearly 1.1 billion dirhams at the end of September 2019, up 6.6% compared to the same period of the previous year, announced the group, specialized in household consumer goods in Morocco and Africa. This performance can be explained in particular by the increase in volumes in the various activities of the group, particularly that of detergents, said Mutandis.
The group’s gross operating surplus reached MAD 75 million up 10.7% thanks to the growth in variable cost margins driven by the increase in activity volumes on almost all categories, a good control of fixed costs and the continuation of the marketing effort accompanying the launch of new products. Mutandis also pointed out that its investments reached 52 million dirhams at September 30, 2019, in line with the annual forecasts, while the net bank debt amounted to 342 million dirhams following the capital increase by the IPO realized in December 2018.
In the third quarter of 2019, the turnover of Mutandis amounted to MAD 409 million (+6.8% compared to Q3-2018), generated by the Detergents’ activities (180 million dirhams, +18.3%), seafood products (143 million dirhams, +5.6%), food bottles (69 million dirhams, -10.1%) and fruit juices (16 million dirhams, +34.4%).