Despite challenging market conditions, the company achieved sales of 43.25 billion dirhams ($4.25 billion), representing a 15% increase compared to the same period last year.
This growth is attributed to OCP’s ability to navigate market fluctuations while maintaining a strong foundation and consistent demand for its products. In the second quarter alone, the Group recorded sales of 23.66 billion dirhams ($2.34 billion), a 23% increase from the previous year. This surge was driven by a recovery in demand from major importing regions and stable prices for phosphate-based products.
OCP Group also intensified its investment efforts during the second quarter, allocating 10.45 billion dirhams ($1.04 billion) towards capital expenditure. This significant increase reflects the company’s commitment to sustainable development and expanding its production capacity, further solidifying its global market position.
While 2023 was a challenging year for OCP, marked by a decline in sales due to lower prices, the company experienced a notable rebound in the second half. Factors such as reduced exports from Chinese competitors and increased demand in key agricultural regions contributed to this improvement.
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