Cartier Saada revenue drops 28.5% in first quarter

Cartier Saada reported a 28.5% decline in turnover for its first quarter of the 2026/2027 fiscal year, with revenue falling to 54.2 million MAD from 69.6 million MAD the previous year. The company noted that its activity remains heavily focused on international markets, with exports accounting for 97.72% of quarterly turnover.

The decline is attributed primarily to the American market, where increased price competition from highly competitive producers has led customers to seek lower-cost alternatives. Additionally, geopolitical tensions involving the United States, Israel, and Iran, alongside the closure of the Strait of Hormuz, have disrupted international logistics and increased transport costs.

Operational challenges also include exceptional weather conditions at the port of Casablanca, which have caused repeated closures and persistent congestion, impacting export timelines. During the quarter, the company invested 1.1 million MAD in renewing production and handling equipment to improve quality and productivity.