Morocco-based consumer goods group, Mutandis SCA, has posted MAD1.16 billion ($127.8 million) in revenue in the first nine months of 2021. The consumer goods company benefitted from a strong growth in sales, as domestic market demand in Morocco returned to normal levels.
Mutandis is an industrial and commercial group with operations in four business segments in the consumer goods industry, including detergent, seafood, beverage and fruit juice sales.
In addition to selling manufactured packaged goods in Morocco, the group exports products to Europe and the Middle East under the leadership of Moroccan politician and businessman Adil Douiri, who founded the company in 2008.
Compared with its revenue of MAD1.04 billion ($114.6 million) in the first nine-month period of 2020, the group’s consolidated revenue for the corresponding period of 2021 rose by 11 percent to MAD1.16 billion ($127.8 million), driven by a sharp 30-percent surge in revenue in Q3 2021.
The double-digit growth in revenue indicates a “return to normalcy” in Morocco, with the group’s seafood, beverage and fruit juice segments experiencing significant sales in the period.
Mutandis’ management underscored in a statement that the group’s resilient performance at the close of 9M 2021 confirms that the detergents and drinks markets are gradually stabilizing. Both had been severely, negatively impacted by disruptions caused by the COVID-19 pandemic.
As of press time, shares in the leading manufacturer were worth MAD259.9 ($28.63), 1.96-percent higher than the opening price of MAD250 ($27.54) per share on Fr., Nov. 8.
At the current share price, the market value of Douiri’s 6.9-percent stake is assessed at MAD142.95 million ($15.75 million).
