Tops and Flops of the week

Tops and Flops of the week
Tops and Flops of the week

The Tops:

Lesieur Cristal (+7.33%): On a technical level, the stock reached its historic high this week at 300 DH, on a business volume of 51 MDH. After a drop in prices in the first quarter, the company anticipates an improvement in its results in the first half. The continuation of good commercial dynamics in all its activities, the reduction of raw material costs and Lesieur Cristal’s constant efforts in terms of operational efficiency should contribute to the improvement of the group’s performance indicators in the first half of 2024.

Label Vie (+4.55%): The Group, which presented a new business plan, aims to double its turnover by 2028 to reach 28 billion DH. Management plans to maintain a stable EBITDA margin rate at 9.3%. To achieve these objectives, the group plans to invest 7 billion dirhams over the next five years.

Managem (+4.04%): Managem has created an industrial natural gas hub and announced the acquisition of Sound Energy Morocco East. With this agreement, the Managem Group extends its activities to the upstream exploitation of natural gas in Morocco and confirms its ambition to become a regional player in the promotion and development of natural resources with a low carbon footprint. The stock has recorded a performance of 42% since the start of the year.

The Flops:

Afriquia Gaz (-5.57%): In the long term, the Afriquia Gaz share price is in a downward trend. This week again, the stock dropped 5.57%. Let us recall that the turnover for the first quarter fell by 12.4% to 2,014 MDH following the drop in the takeover price.

CMT (-4.44%): The mining company, which has been experiencing several turbulences since the beginning of the year, is struggling to stabilize on the stock market. This week, the stock fell by 4.44%, reducing its annualized performance to 18.35%. Management announced at the beginning of the week the postponement of its AGM initially scheduled for June 27, 2024, due to exceptional circumstances requiring additional time to adequately prepare the important resolutions to be submitted to shareholders for votes.

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