Afric Industries, a Tangier-based industrial group, posted net profit of 3.95 million dirhams for the first half of 2026, up 25% from 3.17 million dirhams a year earlier, with earnings growth outpacing revenue growth. Revenue rose 5% to 22.49 million dirhams over the first six months, from 21.32 million dirhams in the same period of 2025, driven mainly by an 11% increase in sales from the company’s abrasives business.
Growth accelerated further at the operating level: operating profit reached 5.96 million dirhams, up 20% from 4.96 million dirhams a year earlier. The company attributed the improvement to a recovery in activity during the second quarter and tighter control of operating costs. Operating revenue totaled 23.43 million dirhams against operating expenses of 17.47 million dirhams, compared with 22.63 million and 17.67 million dirhams a year earlier.
The company also benefited from a reduced financial deficit, which narrowed to around 69,000 dirhams from about 133,000 dirhams in the first half of 2025, lifting recurring profit to 5.89 million dirhams from 4.82 million dirhams. Non-recurring results remained negative, widening to -738,000 dirhams from -600,000 dirhams, and after a tax charge of 1.2 million dirhams, net profit for the half stood at 3.95 million dirhams.
The balance sheet at the end of June showed shareholders’ equity of 47.28 million dirhams and no financing debt, with current liabilities of 8.1 million dirhams. Inventories rose to 13.92 million dirhams from 11.55 million dirhams, and trade receivables increased to 14.75 million dirhams from 11.13 million dirhams, while cash on hand stood at 2.39 million dirhams.
Afric Industries said it aims to sustain profitability for the full year by relying on its established abrasives business and continued cost discipline, while pursuing portfolio diversification. The company’s board, meeting on September 17, also appointed Asma Alaoui as a second independent director, a nomination that will require ratification at the company’s next general meeting.