Samba Foods Limited posts massive sale revenue

Samba Foods Limited braved the 2017 tottering financial year to record a massive 117 per cent sale revenue of 2016 receipts.

“The year 2017, though a tough one for industries, in general, proved to be quite exciting one for Samba foods,” Mrs Leticia Osafo-Addo, Managing Director, told shareholders at the company’s annual general meeting.

According to her,”One year into the administration of the new government (New Patriotic Party), certain amenities like electricity had become stable though still expensive. Water supply has improved and this has impacted positively on our operations as food processors, where water is a vital component of our operations.”

She said extreme currency fluctuations which impacted negatively on “our imports have stabilized, but intense price competition across our industries-food processing, that is, raw materials” still persisted.

“Other government incentives like tax rebates have not translated in our operations yet, it is hoped that, this will be realised in the near future,” she said.

Mrs Osafo-Addo told the shareholders that,” We are now out-growing our current facility due to the newly installed production lines and increased production levels. There is the need to relocate to the company’s own industrial site, where a multi-purpose factory will be built.”

Mr Charles Tetteh Darko, Chairman, said the company would always conduct business in a socially responsible manner and support the sustainable development of its host communities.

“As a company, our strong belief in compliance of the law and regulations is paramount, adopting transparent systems, safeguarding the interest of all stakeholders and creating an environment of trust and confidence, by means of transparency and timely disclosure of information,” he said.

He said the company was growing a strong relationship with research institutions and vendors in order to create unmatched service levels to sustain customer satisfaction and retention.