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General Information News Archives 30/07/06 - CV Tobacco Firm's Sales Up 23 Percent
General Information News Archives 30/07/06 - CV Tobacco Firm's Sales Up 23 Percent | 30/07/06 - CV Tobacco Firm's Sales Up 23 Percent |
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 A Cape Verdean tobacco company has reported sales growth of 23 percent year on year in the first half of 2006. Sociedade Cabo-Verdiana de Tabacos posted a turnover of 361.7mn escudos (about $4.14mn). However, gross margins fell from 51 percent to 48 percent, while pre-tax profits were up by 23.8mn escudos (about $272 000) based on the first half of last year.
The company was partly privitised last year when the government floated 22 percent of the company and a further 25 percent earlier this year. The stocks were the most traded on Cape Verde's stock exchange. The company distributed a dividend of 577 escudos (about $6.70) per share, totalling 138.6mn escudos (about $1.6mn). This was the biggest dividend ever recorded in the country's history. |
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