3 days Ago By pcAdminPNG
NGIP Agmark Limited has announced a half year profit of K8.8 million after tax for 2024. According to the company, the excellent 2024 half year profit of K8.
8million after tax reflects strategic and fluent management decisions to capitalise on the market opportunities created by a largely unpredicted shift in world Cocoa price. The company continues to scrutinise costs, to seek improved return on investment, to create strong relationships with suppliers and to focus on efficient and valued customer service. Key Financial Highlights: Revenue has increased 142 per cent against the same prior year period.
Improved financial performance was primarily driven by the Cocoa Division, reflecting the significant increase in world cocoa market prices. Key details include: The sustained 2024 flush may indicate a higher PNG total 2024 harvest. The flow of cash into local economies from cocoa purchasing has benefitted other (non-cocoa) activities within NGIP Agmark Ltd as sales growth in our Agmark Didiman Stoa network.
“We see as cocoa farmers buying agriculture supplies to reinvest their cocoa funds into their farms. “There has also been increased revenue for our Transport, Logistics and Shipping divisions which we attribute to increased retail and wholesale activities in our locales.”.
