(Ecofin Agency) - Société de Limonaderies et des Brasseries d'Afrique (solibra), subsidiary of Castel group in Côte d’Ivoire, ended 2018 with XOF1.3 billion of net profit. On a year-to-year basis, this performance is three times lower than the XOF4.2 billion recorded in 2017.
The management provided no reason for this counter-performance. Nonetheless, it is to be noted that the firm’s turnover reached a record 5% year-to-year rise to XOF202.8 billion. At the same time, operating expenses reached a record level of XOF154 billion but, due to the absence of an explanatory note, it is hard to pinpoint the exact reasons for this rise.
Apart from the rise in operating expenses, the net profit was affected by an important boom in financial burden. This burden reached XOF5.8 billion and could be due to the financial debt of XOF63.5 billion contracted in 2017.
In those conditions, the firm’s shareholders will receive dividends amounting to XOF2.5 billion (twice lower than the volume received in 2017).
On the WAEMU stock exchange (BRVM), the group’s share SOLIBRA has remained static since April 4, 2019 (XOF37,000). Since January 15, 2019, it recorded no significant rise according to data compiled by Ecofin Agency.