Yaoundé - 17 January 2019 -

Socapalm doubled its net earnings on a year-on-year basis

Socapalm doubled its net earnings on a year-on-year basis
  • Comments   -   Wednesday, 09 May 2018 16:09

(Business in Cameroon) - Société camerounaise de palmeraies (Socapalm), a subsidiary of Socfin, announces that by December 31, 2017, its net earnings after taxes was CFA10.303 billion (double the CFA5.110 billion it realized by the same period a year earlier).

According to the company, this substantial increase of its net earnings after taxes within a year is the result of a set of factors namely, the production cost control, an improvement of agricultural and industrial technics as well as favorable climate factors.  

Let’s remind that during the first semester of 2017, these were the same arguments the company provided to explain the increase of its palm oil production (from 68 to 82 tons) and the rise in its palm nut production from 13,997 tons by June 2016 to 16,797 tons a year later.

Socapalm also informs that during the period under review, its production cost was CFA8.155 billion invested into agriculture (CFA1.209 billion), the industry (CFA4.388 billion), the logistics (CFA1.178 billion) and various expenses (CFA1.380 billion).  

Sylvain Andzongo

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