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Moroccan property firm Alliances Developpement makes 2016 profit
March 31, 2017 / 7:53 AM / 6 months ago

Moroccan property firm Alliances Developpement makes 2016 profit

RABAT, March 31 (Reuters) - Moroccan property developer Alliances Developpement posted a net profit of 144 million dirhams ($14 million) in 2016, recovering from a record loss of 1.8 billion dirhams in 2015 after a debt restructuring.

Alliances’ debt dropped by 50 percent to 1.78 billion dirhams in 2016, from 3.43 billion dirhams in 2015, the company said in a statement published in L‘Economiste newspaper on Friday. (Reporting by Samia Errazzouki; editing by Alexander Smith)

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