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Yaoundé - 24 February 2020 -
Industry

Cameroon Glass Company reports a XAF97.2 mln net profit in 2018

Cameroon Glass Company reports a XAF97.2 mln net profit in 2018
  • Comments   -   Wednesday, 22 May 2019 14:40

(Business in Cameroon) - Cameroon Glass Company (Socaver), subsidiary of brewer Sabc, announces it ended FY2018 with a net profit of XAF97.294 million.

The company indicates that production with furnaces No. 1 (which operated until 7 May 2018) and No. 2, reached 36,700 tons of glass against 34,000 tons budgeted and 49,800 tons produced in 2017. This volume was achieved with an average cullet rate (cullet is waste glass used in glass-making) of 72.71% and a yield of 90.95%.

It also reported a production of 538,000 glass crates compared with a forecast of 1,273,000. In 2017, production was 1,842,000 crates. “This segment in 2018 was particularly impacted by exports, which fell by 82% (-460,000 units) compared to 2017,” says the SABC subsidiary.

Socaver is the only glass factory in Central Africa. It exports its products to Chad, the Central African Republic, Gabon, Equatorial Guinea and Congo Brazzaville.

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