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The Transport Company of Morocco Increased its Turnover

The Transport Company of Morocco is one of the national operators which have been heavily impacted by the crisis and restrictions imposed by the state of health emergency. At the end of 2020, the national road carrier had announced a social turnover down by 50.8% to $29.4 million (262 MDH). At the end of the first half of this year, the company’s consolidated turnover (CA) increased by 39.7%.

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The activity is picking up again for the Transport Company of Morocco (TCM). At the end of the first half of this year, the company’s consolidated turnover (CA) increased by 39.7%, to $27.2 million (243 MDH)) against $19.5 million (174 MDH) a year earlier.

In its financial communication, TCM announced a 47.9% increase of its social turnover during the first six months of the current fiscal year. This compartment thus amounts to $20 million (179 MDH) at the end of June 2021, against $13.6 million (121 MDH) at the end of June 2020. As for capital expenditure (Capex), it reached $5.5 million (49 MDH) at the end of the first half of the year, against $1.7 million (15 MDH) in H1-2020, which corresponds to an increase of 226.7%. As for the indebtedness, it has decreased by 2.1% at the end of June 2021, settling at $20.6 million (184 MDH).

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TCM was heavily impacted by the corona crisis

The TCM reminds, moreover, that during the second quarter of 2021, it proceeded, mainly, to the renewal of a part of its fleet, for an envelope of $4.5 million (40 MDH). From an operational point of view, the management of the Transport Company in Morocco is confident of a return to normal activity “thanks to the efforts made by the authorities in the fight against the pandemic and particularly the smooth running of the vaccination campaign”, it is indicated in the company’s communication.

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Last March, Réda Douihri, director of CTM’s support activities, told Les Inspirations ECO: “We have no visibility either at the national or international level.” However, the manager stressed that the outlook can only improve as the vaccination campaign progresses.

It must be said that CTM is one of the national operators which have been heavily impacted by the crisis and restrictions imposed by the state of health emergency. “The total shutdown of the coaches lasted three months. During the 102 years of existence of the group, we have never experienced such a situation. It was a difficult period for our drivers and network staff, but today they are more serene, with the gradual resumption of activity,” testified CTM’s director of support activities. At the end of 2020, the national road carrier had announced a social turnover down by 50.8% to $29.4 million (262 MDH).

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(Featured image by Free-Photos via Pixabay)

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First published in LesEco.ma, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Valerie Harrison is a mom of two who likes reporting about the world of finance. She learned about the value of investing at a young age upon taking over her family's textile business when she was just a teenager. Valerie's passion for writing can be traced back to working with an editorial team at her corporate job, where she spent significant time working on market analysis and stock market predictions. Her portfolio includes real estate funds, government bonds, and equities in emerging markets such as cannabis, artificial intelligence, and cryptocurrencies.