OCP SA, Casablanca, reported a 20 percent increase in second-quarter revenues, to MAD18.19 billion (approximately $2.0 billion at current exchange rates), up from the year-ago MAD15.13 billion. The Moroccan phosphates group cited higher selling prices compared with a year ago as driving the growth.
Six-month revenues increased 19 percent on the year, reaching MAD32.48 billion versus MAD27.40 billion in first-half 2020.
OCP said its investment expenditure for industrial development totaled MAD2.55 billion in the second quarter, some 14 percent lower than in the second quarter of 2020. Six-month capex was also down on a year-ago, at MAD4.30 billion versus MAD5.09 billion.
The group will report its full second-quarter and first-half 2021 financial results during September.