Maroc Telecom:04 Profit +2.5%;05 Operating Profit, Revenue Seen Up 5%-7%"
PARIS -(Dow Jones)- Maroc Telecom (IAM.CL), a majority controlled teleommunications unit of Vivendi Universal SA (V), said Saturday that its net profit rose 2.5% in 2004, and it forecast growth in revenue and operating income between 5% and 7% for this year.
In an e-mailed statement, the Moroccan fixed-line and mobile-phone operator said that its net profit rose to 5.2 billion Moroccan dirham ($1=MAD8.38) from MAD5.09 billion, thanks largely to growth in its mobile business.
Operating profit at that division rose 39% on the year, boosted by the launch of a MAD20 scratch card that allows clients to make payments as they go.
Group operating income rose 10.3% to MAD7.67 billion from MAD6.95 billion. Total revenue rose 12.8% to MAD17.92 billion from MAD15.89 billion, the company said.
"These results demonstrate that Maroc Telecom's stock offers steady growth and high return for shareholders," Maroc Telecom Chairman Abdeslam Ahizoune said in a statement.
The company said it would propose a dividend of MAD5 a share, representing a dividend yield of 5.8% based on the company's share price on March 4. Shares closed Friday at EUR7.82.
Vivendi Universal, which owns 51% of Maroc Telecom, will present its full-year earnings on March 10.
-By Brian Lagrotteria, Dow Jones Newswires; +33 (0)1 40 17 17 55; brian.lagrotteria@dowjones.com
(END) Dow Jones Newswires"
Posted to the site on 7th March 2005