Cote d’Ivoire: Saph First-Quarter Profit Collapses On Port Congestion, Weak Prices

SAPH (BRVM: SPHC), the Abidjan-based rubber processor and subsidiary of the SIFCA Group, posted net profit of 2.6 billion FCFA ($4.7 million) in the first quarter of 2026, down 78% from 11.8 billion FCFA ($21.1 million) in the same period of 2025 — one of the sharpest earnings drops among BRVM-listed industrials this reporting season.

Revenue fell 24% to 71.8 billion FCFA ($128.3 million). The company identified two drivers: volumes sold dropped 11% because congestion at the port of San Pedro…