Cameroon: Société anonyme des brasseries du Cameroon reports 65.6% decline in net revenue in fiscal 2017
Société anonyme des brasseries du Cameroon (SABC), local subsidiary of Castel group, informs that in the 2017 fiscal year its net result was CFA21.93 billion up by 65.6% from the CFA13.25 billion in 2016, the Business in Cameroon reported on August 3.
SABC said this performance was achieved despite the complex operating environment and the continuous tax burden. The company explained that the economic crisis reduced households' purchasing power and fraudulent beer imports (from neighbouring countries) led to unfair competition in the market.
The company's exports sales dropped by 9.9% during the period under review.
As far as the tax burden is concerned, the brewery informs that, “despite a decrease of the taxes paid, their average burden in the group's operating cost was above 64% during 2015-2017 against an average of 45% between 2011 and 2014".
By December 31, 2017, SABC's turnover was CFA334.9 billion, down by 1% on a year on year basis.
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