OCP’s Net Profit Plummets 17.8 pct

OCP’s Net Profit Plummets 17.8 pct

Morocco’s OCP Plummets 17.8 pct.

World leading Phosphate and derivatives exporter L’office Cherifien de Phosphate (OCP) recorded a blow in its 2014 semi-annual net profit.

The Moroccan group, as a matter of fact, recorded a plummeting of a 17.8 percent in its first half net profit.

Namely, its first half net profit dropped to 3.02 billion dirhams, around $352.23 million.

The main reason for this plummeting is the drop of global prices of phosphate.

OCP senior management hosts today a conference call to discuss results at 10:00 am EDT and 3:00 pm UK/Morocco (GMT+1) time for holders of the Company’s bonds, qualified institutional buyers, securities analysts and market makers.

The Moroccan Times.