The recurring profit growth of listed companies stood at 21.6% for the first half of 2024, a level which exceeds expectations, according to Attijari Global Research (AGR).
This is the strongest growth in recurring half-year profits observed over the last three years, indicates AGR in its recent “Research report – Equity” bulletin, devoted to the results of listed companies, noting that this performance is driven both by improving both operational and financial results.
In detail, the aggregate revenues of the rating increased by 4.2% to 156 billion dirhams, mainly driven by the banking sector, reports the same source.
The dynamics of the stock market is also reflected by recurring operating income which increased by 17.2%. This allowed an improvement in the operating margin of 2.7 points, from 21.7% to 24.4%, in particular thanks to the continued decline in input prices internationally.
In addition, this performance was accompanied by a favorable development in the market, with a cumulative increase in the MASI index of 1.3% since the start of the publication of half-year results in August 2024.
In addition, trade has seen a marked improvement, reaching an average daily volume of more than 200 million dirhams over the last two months.
Finally, AGR experts note that expectations for the second half of 2024 are generally positive, according to press releases published by listed companies.
