Morocco: Africa Gas reports significant surge in half-year sales, reaching 5.2 billion dirhams

Africa Gas, a leading energy company, has reported a remarkable increase in its turnover, rising by 55.1% in the first half of this year.

The company, owned by billionaire Aziz Akhannouch, achieved a turnover of 5.2 billion dirhams, compared to 3.3 billion dirhams in the same period last year.

In a statement, Africa Gas highlighted a 2.4% increase in sales volumes in the second quarter of 2022 compared to the same period in the previous year.

By the end of June 2022, sales had improved by 2.6%, reaching 612,346 tons, up from 596,559 tons in June 2021.

The company’s total investments in the second quarter of 2022 amounted to 107.2 million dirhams, reflecting a slight decrease of 2.9% compared to the same period the previous year.

However, by the end of the first six months of 2022, the volume of these investments had increased by 8.5% compared to the same period in the previous financial year, rising from 194.1 million dirhams to 210.7 million dirhams.

Africa Gas attributes this robust performance to strategic decisions and market conditions that have favored an increase in demand and efficiency in operations.

The company’s ability to adapt and respond to the dynamic market environment has played a crucial role in achieving these impressive results.