Maroc Telecom reported a 5% increase in first-quarter revenue, driven by strong growth across its African subsidiaries and modest gains in its domestic market, the company said in an earnings statement. Demand for data services continued to offset declines in voice revenue.
The group generated MAD 9.3 billion ($993 million) in consolidated revenue in the three months ended March 31, up from MAD 8.88 billion ($945 million) a year earlier.
The group’s Moov Africa subsidiaries continued to be the main growth driver, with revenue increasing 8.5% to MAD 5.03 billion ($535 million), supported by growth in mobile data, fixed broadband and mobile money services.
In Morocco, revenue edged up 0.7% to MAD 4.58 billion ($487 million), as higher mobile data and fixed broadband revenue, driven by continued expansion of its fiber-to-the-home (FTTH) customer base, offset continued declines in voice and ADSL services.
Net profit attributable to shareholders fell 3.4% to MAD 1.3 billion ($138 million), mainly due to the one-time social solidarity contribution imposed by the government. Excluding the charge, net profit rose 3.3%, the company said.
The group’s customer base grew 1.8% from a year earlier to more than 76 million at the end of March, as growth at Moov Africa more than offset a decline in subscribers in Morocco.
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