ARTICLE AD BOX
(Business in Cameroon) - The African Agricultural Forestry Company of Cameroon (Safacam), a local subsidiary of Luxembourg-based Socfin, announced it has achieved a net profit of CFA2.747 billion in 2022. Although the result still needs to be validated by the company’s general assembly, it is up 11% compared to 2021.
The board of directors said all the amount generated will be distributed as dividends to shareholders; CFA2,210 per share. For listed shareholders, the net dividend excluding real estate capital gains tax (11%) is CFA1,966.9 compared to CFA1,776.44 the previous year. Unlisted shareholders domiciled in Cameroon and abroad (excluding France) will receive CFA1845.35 (IRCM 16.6%, rate of transferable securities income tax, ed) per share against CFA1878.5 (IRCM 15% on distributed dividends) for shareholders domiciled in France and CFA1480.7 (IRCM 33%) for shareholders domiciled in a country considered as a tax haven.
Based on these data, Bolloré group, which has a majority shareholding in the board of directors (68.84% of shares), should receive CFA1.990 billion. The holders of shares listed on the Bvmac (20%) will receive CFA488.577 million and the Cameroonian government (11.16%) CFA265.863 million.
The profits distributed were obtained despite a "drastic increase" in input costs. According to Sacafam, this performance was achieved thanks to an improvement of 4% in the production of rubber and an increase of 15% in the segment’s turnover. Sacafam says the rubber turnover would have been higher if the company had not faced "some difficulties".
The palm oil production remained relatively stable at 16,526 tons, compared to 2021. But the company says it has benefited from higher costs, which has increased the segment’s turnover by 15%.
Cédrick Jiongo
English (US)