FENIE BROSSETTE : Press Release – March 2010

FENIE BROSSETTE : Press Release – March 2010 Monday 26 July 2010

The Board of Directors of the Company FENIE BROSSETTE, on its meeting on March 25, 2010, under the chairmanship of Mr.Tarafa MAROUANE, examined the activity of the company and closed the accounts at December 31, 2009.

With its commercial dynamism and despite the unfavorable economic climate FENIE BROSSETTE’s turnover for 2009 grew by 3.7% to reach 599.1 MDH.

Despite the drop in metals prices has impacted the margin, the company could maintain its EBITDA at 71 MDH, which was the level in the previous year.

Continued investment effort has resulted in a significant increase in depreciation expense.

The net result of the company amounts rose to 98 against 59 MDH MDH-end 2008, this rise is mainly due to a net capital gain on the sale, in 2009, of a field of land for 50.7 MDH.

Proposed dividend
The Board of Directors will propose at the next shareholders’ meeting the following dividend distribution for the year 2009 :

  • An ordinary dividend per share of 20 DH
  • An extraordinary dividend of 20 DH per share

Outlook 2010
For the year 2010, the company plans to continue its efforts to strengthen its position in the construction and the development of high added value activities.