Reuters logo
Ivory Coast's Sifca 2014 profit plunges 75 pct on rubber, cedi
July 6, 2015 / 10:30 AM / 2 years ago

Ivory Coast's Sifca 2014 profit plunges 75 pct on rubber, cedi

ABIDJAN, July 6 (Reuters) - Ivory Coast agro-industrial group Sifca’s 2014 net profit plunged to 6 billion CFA francs ($10.1 million), from 24 billion the previous year, the company said in a statement.

Sifca, part-owned by Singapore’s Olam International and Wilmar International, said turnover slid to 449 billion CFA francs, from 511 billion the previous year.

It said its results were hurt by a fall in the price of rubber and financial losses from its palm oil business in Ghana, where the cedi currency slid 31 percent in 2014.

The company said it has invested 70 billion CFA francs in 2014. ($1 = 594.3800 CFA francs) (Reporting by Loucoumane Coulibaly; Editing by Daniel Flynn)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below