(Ecofin Agency) - Tractafric Motors Côte d'Ivoire sold fewer vehicles in the first nine months of 2022, compared to 2021, but it generated more money and a slightly higher profit. This was seemingly not enough to end the decline in its stock performance.
Since January 2023, the stock value of Tractafric Motors Côte d'Ivoire has dropped 7.67% after a 24% decline in 2022 when the share recorded the highest trading volume (XOF665.7 million) since it was listed in 2004.
It is hard to pinpoint the reasons that motivated such a decline but, the downward trend coincides with a drop in Tractafric Motors CI's sales. As of the end of Q3-2022, the local auto market rose to a record 18,035 units sold.
But, Tractafric's sales drop to 1,761 cars sold (against 1822 in 2021) representing a 9.78% market share (against 12% in 2021) in a context where industry indicators show that mid and high-end cars are still popular in Côte d'Ivoire but competition from low-cost brands like Isuzu and Chinese brands is intensifying.
During the period, its turnover did rise to a record never achieved since 2019, according to its unaudited results. The results show that it sold XOF52 billion (up 8% compared to 2021) worth of cars while its net profit rose 3.1% (against a 158% rise in 2021).
The company is one of the few BRVM-listed firms with the highest percentage of public shareholding (75%). This could explain why its share performance is affected by changes in the company's performance. One of the much-awaited announcements, apart from the 2022 results, is the dividends. Since 2017, this dividend has continually risen to reach XOF175.68 in 2022.
Tanzania will now require all local transactions to be priced and paid in Tanzanian shillings. ...
KoBold Metals, the U.S.-based mining company backed by heavyweight investors including Bill Gates an...
This initiative reflects ECOWAS’s commitment to a results-driven, people-centred digital transformat...
• MTN to distribute 1.2 million 4G smartphones at $5.42 for prepaid users.• Move supports South...
• PalmPay plans to enter South Africa, Côte d’Ivoire, Uganda, and Tanzania by late 2025• The fintech...
Lucara Diamond increased the underground mine construction costs at its Karowe diamond project in Botswana by 25%. The company now estimates the cost at...
AngloGold Ashanti operates only one mine in Guinea, the Siguiri gold mine, in which it holds an 85% stake. Last year, the mine delivered 273,000...
Platinum group metals (PGM) producers in South Africa face falling prices and operational headaches. Companies have cut staff and watched revenues shrink....
Besides its Sadiola mine in Mali, Allied Gold manages the Bonikro and Agbaou mines in Côte d'Ivoire. These two mines delivered a total of 36,676 ounces of...
A marketing expert by trade, he leverages his skills to support businesses. With a passion for both music and technology, he also developed a platform...
In Kumasi, the historic capital of the Ashanti Kingdom in Ghana, traditional buildings stand as living testaments to the cultural legacy of one of West...