Côte d’Ivoire’s Palmci unveils annual loss of more than 5 billion CFA francs

Palmci, the Ivorian palm oil manufacturer has revealed a net loss of 5.562 billion CFA francs (8.3 million euros) at the end of its 2019 financial year. This is a negative result but a significant improvement compared to 2018, when the company announced a record loss of 12.612 billion CFA francs (‘18.2 million). This new annual deficit has in fact resulted in a contraction of nearly 6 billion CFA francs in the company’s shareholders’ equity, which fell from 71.242 billion in 2018 to 65.679 billion CFA francs in 2019. However, not everything was negative. Turnover thus increased by 3.76% over the past year, rising from 100.793 billion CFA francs in 2018 to 104.587 billion CFA francs in 2019. Another good point is the significant increase in the gross operating surplus, which rose from 4.212 billion CFA francs to 6.281 billion CFA francs.