Morocco’s Phosphate Giant OCP Reports 1.1% Revenue Decline Amid Market Challenges
The Office Chérifien des Phosphates (OCP), recorded a drop of around 1.1% (1.8 billion dollars/16.8 billion DH) in its turnover at the end of June 2019, compared to the same period in 2018.
In a press release, the Moroccan group indicates that this underperformance is attributable to less favorable market conditions, compared to the same period last year.
Nevertheless, investment efforts continue for industrial development. The Group injected 3.6 billion dirhams (1 dollar = 9.5 DH) in the second quarter of 2019, compared to 2.2 billion dirhams in the same period in 2018, the same source specifies.
Created in 1920 in Morocco, the OCP Group is one of the world’s leading exporters of raw phosphate, phosphoric acid and phosphate fertilizers.
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