11/08/2008 (Joy Online) - Benso Oil Palm Plantation Limited (BOPP) consolidated the impressive performance during the first quarter of the year by recording another good performance during the first half of 2008.
The company’s sales revenue for the first half of the year increased by 74% from GH¢7.87 million in 2007 to GH¢13.69 million recorded in 2008. The company recorded an operating profit of GH¢3.30 million. This signifies 141% growth over the previous year’s operating profit of GH¢1.37 million.
Distribution and administrative cost however increased marginally from GH¢547,000 to GH¢674,000. This resulted in a net profit of GH¢3.50 million, an increase over GH¢1.39 million recorded during the same period last year. The Earnings per Share (EPS) also increased significantly from GH¢ 0.0401 to GH¢ 0.1007.
BOPP had a good season because of the continues soaring world market prices of Crude Palm Oil (CPO) and benefits accrued from the cost rationalisation measures adopted last year.
The company’s shares on the Ghana Stock Exchange also performed remarkably well so far this year. It has emerged as one of the best performed stocks with a share price appreciation of over 100%.
The equity started the year at GH¢0.49. It is currently traded at GH¢1.30 per share. This signifies a year to date change by 165%. The shares are traded at a P.E multiple of 6.
ABL Declares Final Dividend
Accra Brewery Limited has announced a final dividend of GH¢0.0025 per share for the financial year ended March 31, 2008. All shareholders registered in the books of the company at the close of business on Tuesday, August 19, 2008 will qualify for the final dividend which would be approved at their Annual General Meeting.
The dividend payment date is on Friday, September 12, 2008 and the Annual General Meeting of the Company will be held at Osu Ebenezer Presbyterian Church Hall, Accra on Wednesday August 13, 2008 at 10.00 am.
SCB Releases Half Year Results Standard Chartered Bank has released its financial results for the half-year ended June 30, 2008.
The results show an increase of about 18.2% in Net Interest Income from GH¢29,925 in 2007 to GH¢35,370 in 2008. Profit after tax also increased by 5.82% for the same period.