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Microdata, an IT services provider headquartered in Casablanca and led by Moroccan entrepreneur Hassane Amor, experienced a slight decline in profits at the conclusion of its 2022 fiscal year due to a rise in operating expenses and foreign exchange losses that negatively affected the company’s earnings.
According to figures contained in Microdata’s recently published financial statement, its profits decreased by 6.5 percent at the conclusion of its 2022 fiscal year. The company’s profits fell from MAD45.6 million ($4.43 million) in 2021 to MAD42.6 million ($4.14 million).
Despite experiencing a significant 23.3-percent increase in revenue during the period under review, from MAD563.6 million to MAD694.9 million, the group’s earnings declined by 6.5 percent due to a surge in operating expenses and the negative impact of foreign exchange losses on the company’s earnings.
Despite the decline in its earnings, the group’s board of directors decided to propose a dividend of MAD25 ($2.43) per share at its next ordinary general meeting, translating to a total dividend payout of MAD42 million ($4.1 million).
Under the leadership of Amor, Microdata provides a range of IT services, including IT integration, support, and consulting. The company specializes in cloud computing, mobile computing, and infrastructure virtualization, offering tailored solutions to meet the unique needs of its clients.
Amor, who founded Microdata in 1991 as an IT services provider specializing in cloud computing, mobile computing, and infrastructure virtualization, has played a critical role in the growth and expansion of the Moroccan technology sector, particularly through the operation of Microdata.
As the CEO and founder of the Casablanca-based IT services provider Microdata, he holds a 56.17-percent stake in the company, or 943,656 ordinary shares. The stake represents the majority of his fortune.
Amor stands to gain a total of MAD23.6 million ($2.3 million) from the dividend proposed by the board based on his stake in the company.
