This performance underlines the group’s resilience in the face of market challenges, while capitalizing on solid fundamentals and sustained demand for its products, OCP said in a press release.
In the second quarter of 2024, OCP recorded a solid financial performance, with a turnover up sharply to 23,660 MDH, compared to 19,280 MDH in the same quarter of the previous year, the same source specifies.
This 23% growth reflects favorable market conditions, marked by a significant recovery in demand in several importing regions, as well as stable prices for phosphate products, helping to strengthen the group’s profitability.
At the same time, the group announced that it has intensified its investment efforts in Q2-2024, with capital expenditure amounting to MAD 10,452 million, an increase compared to the MAD 6,388 million committed in the same period of 2023.
This increase reflects the group’s continued commitment to strengthening its sustainability and contribution to global food security, while increasing its production capacities and supporting its long-term growth, thus consolidating its position in the global phosphate market.
2024-09-06 04:19:40