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Côte d'Ivoire: SAPH net income falls by 39%

21/06/2021
Categories: Companies

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The Société Africaine de Plantations d'Hévéas (SAPH) in Côte d'Ivoire is affected by logistics to ship rubber. The company's net profit was 1.506 billion FCFA, a decrease of 39%.

While rubber prices continued to rise in the first quarter of 2021, the results of SAPH, a subsidiary of the SIFCA group, lagged behind. Sales fell by 6% compared to the first quarter of 2020 while net income fell by 39%. A drop in turnover attributable to the fall in sales volumes despite constant machined production. “This decrease in sales volumes is explained by a delay in shipments due to loading problems with shipping companies” notes the SAPH in the press release sent to the BRVM. SAPH emphasizes that the upward trend in global rubber prices observed as early as the second half of 2020 continued in the first quarter of 2021, with an average of prices observed in the first quarter of 2021 at $1,6620 per kilo, well above $1.3176 per kilo in the

same period in 2020.
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