Ivory Coast agro-industrial group Sifca’s 2014 net profit plunged to 6 billion CFA francs (US$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 % in 2014.
The company said it has invested 70 billion CFA francs in 2014. – Reuters