ZELLIDJA:Press Release – March 2010

ZELLIDJA:Press Release – March 2010 Monday 26 July 2010

The Board of Directors Zellidja met Thursday, March 25, 2010 under the chairmanship of Mr Tarafa MAROUANE, and reviewed the company’s business at the end of 2009 and settled the accounts at December 31, 2009.

Corporate financial statements

Net profit stood at 27 MDH, a 143% growth compared to 2008. This increase can be explained on one hand by the improved operating result and, on the other, by the fact that in 2008 the company had credited its participation in SFPZ as a reaction to the latest performance of this metallurgy company.

RESULTS OF MAIN SUBSIDIARIES

Company FENIE BROSSETTE

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.

Net income rose 67% to 98.7 MDH mainly because of the realization of a net profit of 50.7 MDH on land disposal.

Zellidja Foundries for Lead Company (SFPZ)

Despite the international situation remains difficult, the result of SFPZ has established a clear improvement compared to last year rising from -268.1 MDH to – 27.7 MDH.

In addition, as part of the restructuring of its equity, the company performed, late 2009, an increase in its capital of 60 MDH.

Outlook 2010

  • FENIE BROSSETTE : the company plans to continue its efforts to strengthen its position in the construction and the development of high added value activities.
  • SFPZ has secured its level of supply on the market which will enable it to improve its production ratios and contribute to improved results in 2010.

Dividend

The Board of Directors will propose at the shareholders’ general meeting a dividend distribution  of 65 dirham per share for the year 2009, distributed as follows :

  • An ordinary dividend of 20 DH per share.
  • An extraordinary dividend of 45 DH per share.