Angola: Lactiangol to pay out dividends for first time

24 October 2008

Luanda, Angola, 24 Oct – Angolan dairy producer Lactiangol in 2007 posted profits of US$1.369 million, the company’s chairman, José César Macedo said Wednesday in Luanda.

Speaking to Angolan news agency, Angpop, Macedo said that some of the results would be applied to new projects and others would be used to distribute dividends to shareholders, an amount which thus far had been used for debt payments.

“Lactiangol managed to reach a certain balance in its accounts and, thus, for the first time, profits will be partially shared with shareholders,” the company’s chairman said.

Lactiangol, Macedo said, over the years has made use of loans from Angolan banks, although in the short term, it had brought an end to a cycle of debt in which very high rates led to most profit being sued to pay interest.

Lactiangol produces powdered and pasteurised milk, yoghurts and juices. (macauhub)