At the end of the year ended 31 December 2016, the Société Africaine Forestière et Agricole du Cameroun (SAFACAM), agro-industrial company listed on the Douala Stock Exchange (DSX), had FCfa 716 million in net profit after tax, we learned in the financial statements just published by SAFACAM.
In comparison to the previous year, this net profit has decreased by more than 50%, the company ending the year 2015 with a net earning after tax of FCfa 1.8 billion. According to SAFACAM, in spite of an increase in the turnover of the company (particularly due to oil palm kernel pressing activities which started last year), this under-performance is mainly explained by a drop of 13% in the production of palm oil, and the fall of the average selling price for rubber (-4%).
Despite these mixed performances, SAFACAM should pay a global dividend of FCfa 1.6 billion (resources were taken from the account for Retained Earnings from previous years to add to the net profit for 2016) to its shareholders, with FCfa 1,310 per share, we learned.
wITH businessincameroon.
