Ivory Coast's Saph 2012 net results down nearly 54 percent

ABIDJAN, April 30 Tue Apr 30, 2013 7:02am EDT

ABIDJAN, April 30 (Reuters) - Ivory Coast natural rubber producer Saph reported net profits of 21.07 billion CFA francs ($42.08 million) in 2012, down nearly 54 percent from 45.62 billion CFA in 2011, the company said.

Turnover slipped to 172.96 billion CFA francs from 194.54 billion in 2011, according to a financial report posted on the website of West Africa's BRVM regional bourse on Tuesday.

The company said last year that 2012 earnings were being affected by lower world prices for natural rubber. ($1 = 500.7300 CFA francs) (Reporting by Loucoumane Coulibaly; Editing by Joe Bavier)