by 1frenchy » Wed May 11, 2011 4:19 pm
Addoha nearly double its net profit in 2010
2Share
With the increasing number of homes sold, improved margins in the high-class and lower debt, net income group share increased by 92%.
Addoha
Excellent Addoha for fiscal 2010. All indicators of activity and profitability of the group are a significant improvement over 2009, thanks to the increasing number of homes sold at higher margins in the high-class and lower debt.
Indeed, the consolidated turnover amounted to 7.6 billion dirhams, up 26.1% over 2009. This volume follows the signing of definitive agreements 22 349, 95% in the segment of social housing and intermediate. This activity has attracted a turnover of 5.91 billion dirhams, while the upper class (main and secondary residences) reported 1.67 billion dirhams.
The operating result was, he flew 50% to $ 2.3 billion DH. This performance improvement of 16 points in the margins of society GFM (ex-Fadesa Morocco) and delivery by Addoha units in 2010 under the high-margin luxury segment. Operating margin improves by about 5 percentage points to 30.8%.
As for net income group, it nearly doubled (+92%) to $ 1.68 billion DH. This performance results from the increase in operating income, but also the significantly improved financial result (+101 MDH) following the reduction in debt, and the non-recurrence of losses on securities completed in 2009. Net margin wins, de facto, 7.6 percentage points to 22.2%.
Given these achievements, the management of Addoha decided to distribute a dividend of 2 DH per share, an increase of 33% compared to 2009.
Finally, note that the sale agreement signed on 31 December 2010 amounted to 36,929 contracts, equivalent to a turnover of 14.2 billion secured for the DH group.
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