Marsa Maroc, the main port operator in Morocco, has posted MAD1.74 billion ($193.61 million) in revenue for the first half of 2021, as the overall traffic it handled increased by double digits.
Compared with last year, the group’s consolidated revenue rose by 20 percent, indicating a significant improvement in its activity despite the impact of the pandemic on its operating environment.
Mohammed Abdeljalil, the president of its executive board of directors, steers the reins of Marsa Maroc.
The Casablanca-based port operator was formed in December 2006 as part of the country’s law to reform Moroccan ports. It recorded a total traffic volume of 23 million tonnes in the first half of 2021.
It manages nine ports in total, of which seven are in Morocco, while the other two are in Western Sahara, which Morocco claims.
The double-digit growth in its mid-year revenue from MAD1.45 billion ($161.29 million) in the first half of last year to MAD1.74 billion ($193.61 million) in the first half of 2021 came on the back of a 22-percent rise in the overall traffic that it handled during the period.
The overall traffic handled by the port operator and its subsidiaries rose by 22 percent to 23 million tonnes, of which 4.2 million tonnes were handled by its subsidiary, Tanger Alliance.
Marsa Maroc revealed that its domestic containerized traffic increased by 16 percent compared to the first half of 2020 on the back of increased port operation during the period.
Meanwhile, the drop in cereals and coal traffic led to a 3.5-percent decline in bulk and conventional traffic to 13.5 million tonnes.
As of press time, 2:22 PM (UTC), Aug. 12, shares in Marsa Maroc on the Casablanca bourse were worth MAD264.35 ($29.41), 187-basis points higher than their opening price for the month.
At the current price, the market capitalization of the leading port operator is MAD7.11 billion ($791.53 million).
