net income amounted to 29 million dirhams at the end of June

SMI, a subsidiary of the Managem group, achieved a turnover of 4.19 billion dirhams, a strong growth of 41% over one year.

Good vintage for the Metallurgic Company of Imiter (SMI) in the first semester. The subsidiary of the Managem group achieved a turnover of 4.19 billion dirhams, a strong growth of 41% over one year. This momentum is attributable, on the one hand, to the 12% improvement in silver production, under the combined effects of the increase in production from the underground mine and the start of production at the quarry. On the other hand, turnover was driven by the 16% increase in the average selling price. The 10% appreciation of the dollar/DH exchange rate also favored this trend. Also, with a gain of 106 million DH, the net result turns green and stands at 29 million DH. Ditto for the operating result which reached 28 million DH, against -79 million a previous year. For the year as a whole, SMI intends to “actively” pursue its research and development efforts in order to improve the life of the mine and sustain its activities while contributing to the development of the region. The company also plans to maintain its optimization efforts. The aim is to satisfy its operational and financial performance.




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