Société camerounaise de palmeraies announces 50% increases in 2013

According to the financials "that have not been verified by the auditors" recently published by Société camerounaise de palmeraies (Socapalm), the agro-industrial company on the Douala Stock Exchange (DSX) made 5.167 billion FCfa in 2013 against 3.6 billion FCfa in 2012 which represents a 50% increase.

Taking into account "planned investments and the company's cash flow", Socapalm's board recommended that shareholders distribute a total of 5.67 billion FCfa in dividends. This is 3,388 FCfa per share "before tax deductions on investments."

In Socapalm's financials, this works out to be a "non-dematerialised" dividend of 2,828.90 FCfa (against 1,914 FCfa in 2012) for shareholders based in Cameroon and abroad (outside of France and without investment taxes: 16.5%); and 2,879.80 FCfa (15% in investment taxes) to shareholders residing in France.

This development in Socapalm's performance at the end of 2013 had already been projected at the end of the first quarter, a period in which the company had announced sales up by 4 billion FCfa (+18%), thanks to "an increase in production and the purchase of regimes (respectively +22% and +14%) and, as a result, a gradual rise in crude palm oil (+19%) and palm nut oil production (+17%)."

While planning "to sell, in 2013, all of production" the auditors of Socapalm had already projected an overall result before taxes of 7.5 billion FCfa at the end of December 2013. This forecast is close to the 7.1 billion FCfa before taxes made at the end of that period.