The LabelVie group achieved a turnover of more than 2.98 billion dirhams (MMDH) during the first three months of 2022, up 15% compared to the same period of 2021.
“This good performance is mainly driven by the clear recovery in store footfall levels,” said the group in a press release on its quarterly results, adding that this is explained by the increase in sales on a like-for-like basis of + 8% as well as by sales made by points of sale opened in 2021 and during the first quarter of 2022.
The first quarter saw the opening of 4 new stores, 3 supermarkets and a new “Hypercash” store in the city of Casablanca, notes the same source.
As for the investment made during Q1-2022, it amounted to 207 million dirhams (MDH), or 39% more compared to the investment made during Q1-2021. “This investment concerns both the openings made during the first quarter and the points of sale under development”, notes the press release.
With regard to net financial debt (including outstanding leasing), it amounted, during Q1-2022, to more than 3.08 billion dirhams, an increase of 9% compared to in the same period of the previous year.
This increase is part of the financing of the opening program carried out in 2022, said the same source, which notes that the level of net financial debt was thus established, as of March 31, 2022, at 50% of the total permanent funding.
