Morocco: Higher Jlec profit on lower revenues
Issue 272
- 03 Mar 2014
| 1 minute read
Jorf Lasfar Electricity Company (Jlec), owned by Abu Dhabi National Energy Company (Taqa), has reported a higher than initial estimated profit for 2013 – at MD415m ($50.7m) – on the back of MD4.9bn revenues. Income was down 16% on the year, but this was offset by a fall in the price of coal. Jlec, which listed on the Casablanca Bourse in December, announced a MD106.6/share dividend – equivalent to 24% of the initial public offering share price (AE 268/8).
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