World Markets

Maroc Telecom's third-quarter profit slips 2.6%

Maroc Telecom, Morocco's largest telecoms operator, on Monday reported a profit of 4.526 billion dirhams ($490 mln) in the first nine months of the year, down 2.6 % compared with the same period last year.

RABAT, Oct 19 (Reuters) - Maroc Telecom, Morocco's largest telecoms operator, on Monday reported a profit of 4.526 billion dirhams ($490 mln) in the first nine months of the year, down 2.6 % compared with the same period last year.

Revenue rose to 27.5 billion dirhams, up 0.7%, the company said, citing resilient growth in Africa.

Maroc Telecom operates subsidiaries in Benin, Burkina Faso, Ivory Coast, Gabon, Mali, Mauritania, Niger, Togo and the Central African Republic.

The group’s customer base grew 4.3% to 70,5 million users, including 19.7 million in Morocco.

Maroc Telecom, listed on the Casablanca Stock Exchange and Euronext in Paris, is 53% controlled by the United Arab Emirates telecoms group Etisalat 7020.SE and 22% owned by the Moroccan state.

(Reporting by Ahmed Eljechtimi, editing by Louise Heavens)

((ahmed.eljechtimi@thomsonreuters.com;))

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