Safacam announces 14% dip in sales for first half

According to figures for the first half of 2014 that have just been released by Société africaine forestière et agricole du Cameroun (Safacam), a company listed on the Douala Stock Exchange (DSX), sales up to June 30, 2014 were down by 14%, falling from 7.8 billion FCFA to 6.7 billion FCFA.

The decline in sales is due to the downturn in rubber prices. Indeed, in the first half of 2014, rubber sold for 1,012 FCFA per kg compared to 1,369 FCFA in June 2013 is down by 350 FCFA.

This downturn in rubber prices, despite “the company’s steady pursuit of expansion activities” made the result from Safacam’s regular activities plummet by 34%, fall from 3.8 billion FCFA in June 30, 2013, to 2.5 billion FCFA in the first half of 2014.

Referencing the second half of 2014, Safacam stated that it seems it could even be “more difficult than the first” due to “the usual decline in palm oil production at the end of the year” and “the uncertainty surrounding international rubber prices which continue to go down.”