logoBC
Yaoundé - 09 July 2020 -
Public management

Cameroon: Socapalm’s net result was 20.6% up YoY in H1, 2019

Cameroon: Socapalm’s net result was 20.6% up YoY in H1, 2019
  • Comments   -   Tuesday, 29 October 2019 13:13

(Business in Cameroon) - Société camerounaise de palmeraies (Socapalm), Cameroonian subsidiary of Belgian Société financière des caoutchoucs (Socfin), reports that on June 30, 2019, the pre-tax earnings from its ordinary activities was XAF12.87 billion. This represents a 25.89% increase compared with the XAF10.23 billion recorded by the same period in 2018.

In addition, the company indicates, during the period under review, the net result was XAF7.9 billion, up by 20.6%, from the XAF6.6 billion of H1, 2018.

This performance, Socapalm explains, is due to good palm oil sales in H1, 2019. Indeed, at the end of H1, 2018, the company’s stock of palm oil was 30,959 tons but, at the end of H1, 2019, it was 25,839 tons, showing a 16.5% drop.

Socapalm expects the sales of all of its production before the end of this year and a yearly turnover of XAF67 billion. Moreover, the agro-industry forecasts that this year, its production would be 4% higher than in 2018. This will result in close to XAF16 billion in pre-tax earnings for the 2019 financial year.

"These results are the combination of improved agricultural and industrial techniques as well as controlled production costs," Socfin's subsidiary explains.

Sylvain Andzongo

cameroon-plantain-chips-producer-delors-leuwing-n-wins-3rd-edition-of-pierre-castel-prize
Delors Leuwing Ngounouo (photo) is the winner of the 3rd edition of Pierre Castel Prize in Cameroon, thanks to his company Mboa Snackery Sarl, which...
investisseurs-et-partenaires-i-p-announces-interest-free-loan-programme-to-support-smes-in-cameroon
Investisseurs et Partenaires (I&P), an investment fund dedicated to SMEs based in Africa -chaired by Jean-Michel Severino (photo)- and Somtou Cameroun...
cameroonian-start-up-ease-travel-launches-a-cfaf150-mln-fundraising-to-develop-operations
Since June 15, 2020, the Cameroonian start-up Ease Travel Services, with Franck Dakayi (photo) as co-founder, has been in the fundraising market to raise...
hevecam-lays-off-1-037-employees
As announced on June 26th, Hevea Cameroun (Hevecam), a subsidiary of the British group Corrie MacColl specialized in rubber production, laid off part of...

Mags frontpage


Business in Cameroon n88: June 2020

Covid 19 Its impacts so far


Emmanuel de Tailly (SABC) : «Preserving jobs at all costs»


Investir au Cameroun n98 Juin 2020

Covid 19 Et maintenant, l’étendue des dégâts


Emmanuel de Tailly (SABC) : «Maintenir l’emploi coûte que coûte »