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OCP group announced a strong revenue growth of 14% in the year 2017, standing at MAD 48,503 million, up from MAD 42,471 million in 2016, posting a solid performance across all product segments.
Volumes in Rock and Fertilizers increased by 40% and 24%, respectively, compared to 2016, said OCP which has published its earnings. The group maintained its leadership position in Acid, retaining its ranking as the second largest concentrated phosphate supplier in Asia, with stable year-over-year performance.
2017 was a key year in the execution of OCP's industrial development program, and capital expenditures amounted to MAD 9,045 million as a result of the achievement of projects, the statement underlined.
«In 2017, OCP reinforced its capacity and product leadership across the value chain, while retaining its industry leading margins. We continued to execute effectively on each of the major elements of our strategic plan, namely capacity leadership, utilizing our industrial and commercial flexibility to stimulate demand, and leveraging economies of scale and investment spending to drive down production-related costs», said Mostafa Terrab, Chairman and Chief Executive Officer of OCP.
