Lydec, responsible for managing water, electricity, public lighting, and wastewater collection in Casablanca, experienced an 83% decline in profits in 2022, according to their financial statements.
Their profits amounted to 11 million dirhams last year, compared to 67 million dirhams in 2021.
The company, which is affiliated with the French company “Suez,” attributed the decrease in profits to high operating costs caused by inflation’s impact on fuel prices and the increased expenses required to combat water stress.
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