Reginald Daniel Laryea
GOIL PLC improved its performance in 2021 by registering a profit after tax of GH¢98.74 million, up by 9% compared to that of 2020.
Earnings per share also increased from GH¢0.23 in 2020 to GH¢0.253, while total assets increased from GH¢2.1 billion to GH¢2.5 billion. Shareholders will benefit from a final dividend of GH¢0.047 per share as compared to the 2020 dividend of GH¢0.045.
Board Chairman, Reginald Daniel Laryea, disclosed this to shareholders at the 53rd Annual General Meeting (AGM) held in Accra.
This year’s virtual AGM was joined by shareholders both in Ghana and abroad, who accessed, voted and passed various resolutions proposed by the board.
In a report to shareholders, Mr. Laryea said, the volume of sales of fuels was approximately 886.6 million litres, about 11% above that of the previous year, thus overtaking growth in the industry which was 9%. The biggest contribution to sales revenue, he noted, was the performance of “Diesel” and “Super” especially Super XP RON 95.
Touching on the future of the company, Mr. Laryea said the board was confident that the bold initiatives, especially the LPG & Bitumen plants, alongside its determination to find a suitable partner to replace Ezzon Mobil in the upstream endervours, are game changers that will definitely propel GOIL to the next level.
Group CEO/MD of GOIL Plc, Kwame Osei Prempeh, said production will start to test run in July, as full production begins in August this year.
Chief Operating Officer, Alex Josiah Adzew, also said over 240 GOIL service stations now accept the use of Mobile Money, Go Cards and Visa Cards as mode of payments. He assured that efforts were being made to ensure that all the GOIL service stations nationwide operated cashless to avoid rampant robbery attacks at service stations.