CMT forecasts at least 20% of turnover for the 1st half of 2020

The turnover of Compagnie minière de Touissit (CMT), for the first half of 2020, will drop by more than 20%, the company said in a press release published after its combined general meeting of shareholders.


July 02, 2020 at 11:23

Modified July 02, 2020 at 11:34

“Despite the implementation of a business continuity plan, turnover for the first half of the year will drop by more than 20% mainly due to the base metal prices fall and the drop in production during the second quarter of 2020 “, indicates CMT. In view of these circumstances, operating results at the end of June 2020 will fall compared to the same period of 2019.

The ordinary general meeting of CMT shareholders adopted all the resolutions submitted to it by the board of directors with the exception of the second resolution relating to the allocation of earnings.

Indeed, and taking into account the economic crisis caused by the new coronavirus, “the reference shareholder proposed, out of prudence, not to distribute dividends and to allocate the entire result of the 2019 financial year to the carry over new, “said a statement relayed Thursday, July 2 by MAP.

The general meeting approved, consequently, the allocation to the retained earnings of the total distributable profit which amounts to DH 184,197,510.11.

Remember that the board had proposed the distribution of a dividend of DH 60 per share for the 2019 financial year.


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