Auto Hall of Morocco Says 2007 Profit Rose 76% as Sales Climbed

Auto Hall, the Moroccan distributor of Ford and Mitsubishi cars, said full-year profit gained 76 per cent on higher demand amid `` fortunate economic conditions.''

Net income increased to 403.4 million dirhams ($54 million), or 170.94 dirhams a share, from 228.8 million dirhams, or 96.96 dirhams a share in 2006, the Casablanca-located company said in a statement published in L'Economiste newspaper today. Sales jumped 44 percent to 2.69 billion dirhams, lifting operating profit by 75 percent to 571 million dirhams.

A dividend of 60 dirhams per share will be approved for shareholder approval on April 24, the statement said.

Auto Hall, which has gained 14 per cent this year, were unchanged at 2,740 dirhams as of 10:52 a.m. in Casablanca.