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Cameroonian palm oil production firm, Société des palmeraies de la ferme suisse (SPFS),drops in revenue earnings

The palm oil production of the Société des palmeraies de la ferme suisse (SPFS), a Cameroonian agro-industry owned by the Socfin group, showed “a slight drop” during the first quarter 2016, compared to the same period in 2015. The information can be found in an official report from the Socfin group.

Associated to the Boko Haram threat, which according to the said report, “still limits refined oil exports, thereby giving a downward influence to selling prices”; this decline in the production of SPFS during the first quarter 2016 led to, we learned, “an important drop” in the net profit of this company, compared to the first quarter 2015.

A company specialised in the refinery of palm oil, SPFS is wholly-owned subsidiary of the Société camerounaise de palmeraies (Socapalm), an agro-industry unit listed on the Douala Stock Exchange (DSX), the country’s stock market.

A company with a capital of FCfa 2.6 billion, SPFS had a turnover of €8.813 million in 2015, equivalent to FCfa 5.7 billion. This performance is slightly lower than the €8.994 million in 2014.

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