An investment holding firm controlled by Morocco's royal family on Saturday posted a 50 percent rise in its net profit helped mostly by higher earnings from banking, mining, steel and sugar affiliates active mostly in the domestic market.
National Investment Co., or SNI, made a net consolidated profit of 4.3 billion dirhams in 2011 versus 2.9 billion dirhams in 2010 in comparable terms, showed financial statements published in pro-establishment newspaper Le Matin.
Through SNI, the Alaouite dynasty - that has been ruling Morocco for close to four centuries - is the biggest private stakeholder in the local economy. This position has recently sparked growing criticism, especially at the height of mass pro-democracy protests last year inspired by Arab Spring revolts.
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