Performances of Socapalm and SAFACAM

The first three months of the current year were positive for the Société Camerounaise de Palmeraies (Socapalm).

Based on figures published by the Douala stock exchange, Le Quotidien de L’économie (LQE) on October 29, 2015, revealed the information that the multinational has achieved a turnover of FCFA 5.2 billion in the first quarter of 2015.

This is better than the same period last year. LQE noted that this figure is "an increase of 22.63% as compared to the first half of 2014". A performance that lags Socapam especially crude palm oil, according to a statement published in Cameroon Tribune on October 28, 2015.

"It involves 71 401 tonnes, an increase of 17.106%, and palm kernels of 21.744%, an increase of 16,125 tons," relayed the newspaper.

LQE, in terms of taxes, explained that there was "An amount of FCFA 8.2 billion (an increase of 23.81% as compared to the same period of 201), while net profit after the tax on June 30, 2015, remained stable at 5.081 billion compared to 5.233 billion from 30 June 2014. This stability is due to the increase of tax burden (income tax) in 2015."

Our colleague states that "the company sees a rosy future and provides for the entire production industry, and its annual turnover is expected to be around FCFA 51 billion. Socapalm predicted during that year, a production level of 12.5% higher than the year 2014 ".

These positive results of Socapalm contrasted with the average figures of Agricultural Company of Cameroon (SAFACAM). According to LQE, SAFACAM turnover decreased from " FCFA 6 702 to FCFA 5 395 million, a decrease of 20%. This drop is related to rubber price (average price: FCFA 773 / kg, against FCFA 1, 012 / kg at the end of June 2014). "

LQE further stated that "at the end of the first half of 2015 is FCFA 1 962 million against FCFA 2600 million last year. This makes a decrease of 25%. "