The Al Omrane group achieved a consolidated net profit of 194 million dirhams (MDH) for the first half of 2024 (H1-2024), showing an increase of 640% compared to the same period a year earlier.
At the close of H1-2024, the group recorded notable progress in all its performance indicators, indicates the group in a press release on its half-year results.
“These exceptional results demonstrate the successful revitalization of the group and the exemplary mobilization of its teams,” continues the same source. For its part, operating income amounted to MAD 363 million, up 515% compared to the first half of 2023. This trend was also marked by a significant increase of 31% in consolidated turnover at 2.282 billion dirhams (MMDH).
Sales revenue reached MAD 2.666 billion, an increase of 43% compared to the first half of 2023, demonstrating solid commercial dynamics, reports MAP.
Furthermore, the group achieved an investment volume of MAD 2.288 billion during H1-2024, which represents an increase of 11% compared to the same period in 2023.
In terms of physical achievements, the group has started work on 3,603 new production units, representing an increase of 24% compared to the first six months of the previous year.
The completion of the work, for its part, concerned 4,048 new production units, showing exceptional growth of 206% compared to the achievements of the same period of the previous year.
In terms of transactions, 7,949 sales contracts were established at the end of June 2024, reflecting an increase of 13% compared to the previous year.
Deliveries, for their part, concerned 8,250 units, marking an increase of 40% compared to the same period in 2023.
The positive results recorded during the first half of 2024 confirm the new ambitions set by the group, which will continue to deploy its recovery plan while maintaining sustained momentum in carrying out its projects.
In terms of prospects, the Al Omrane group, a strategic public company and armed arm of the State, is entrusted with the mission of implementing government policy in terms of housing, planning and territorial development, translated by the conduct public programs carried out by the Ministry of National Territorial Planning, Urban Planning, Housing and Urban Policy.
In order to fully ensure this mission and make a strong contribution to the socio-economic development of the Kingdom, the group carried out, at the end of 2023, a global strategic review resulting in the definition of new strategic orientations and short and medium objectives. very ambitious terms aimed at transforming the Al Omrane group into a key player in the housing and land use planning sector, contributing to improving the living environment of citizens with innovation, modernity and sustainability.
Furthermore, readjustments to the group’s organization and its operational processes were made and relations with its partners were strengthened.
The prospects of the Al Omrane group, reviewed on this basis, aim above all to strengthen its role as a privileged partner of the public authorities for the realization of land development and urban upgrading projects. In addition, the group aspires to become the leading national operator in the housing sector, while developing strategic partnerships with the private sector.
In this sense, Al Omrane is working to lay the foundations for sustainable development, based on good governance, coherent strategic alignment, as well as financial solidity.
Furthermore, technological transformation, operational excellence, research and innovation, as well as risk management and internal control, remain essential areas to guarantee the sustainability of its long-term performance.
The first results of this development were immediately seen and the group is continuing its development on this momentum, the press release concludes.
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