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Article: Companies & Markets: Core business boosts ONA profits.(ONA Group of Morocco)(Brief Article)(Statistical Data Included)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- April 5, 2002
CopyrightCOPYRIGHT 2002 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The kingdom's largest private holding company, the ONA Group, announced in late March that it had succeeded in growing sales by 11 per cent in 2001, despite the general slowdown in the world economy and Morocco's third consecutive year of drought.
The MD 2,346 million ($200 million) increase in turnover to MD 24,312 million ($2,079 million) was made possible in part because of the group's enhanced performance in the retail sector ONA-owned supermarkets opened in 2000 consolidated their position and other new outlets helped the group increase its market share. During 2001, ONA continued its policy of forming strategic partnerships with international operators in ...