The Bulk Oil Storage Company (BOST) has announced a profit of GH¢208 million for 2023.
This profit represents a dramatic recovery for the company, reversing its equity position from a negative GH¢248 million in 2021 to a positive GH¢277 million in 2023.
The 2023 profit follows a GH¢342 million profit recorded in 2022 and GH¢160 million in 2021, totaling a cumulative profit of GH¢710 million over the last three years.
According to citinewsroom.com, BOST’s Board Chairman, Ekow Hackman, shared these figures during the company’s Annual General Meeting (AGM) held in Accra on July 17, 2024.
Mr Hackman credited the company’s improved financial performance to effective management strategies.
“The overall financial performance of BOST continuous to see remarkable improvements as a result of prudent management. The company’s equity position strengthens from a negative position of GH¢248million in 2021 to a positive GH¢277 in 2023. That is providing a solid foundation for future growth. A profit of GH¢208 million was recorded in 2023.”
“This compares to GH¢342 million in 2022 and a GH¢160 million in 2021 accumulative profit of GH¢710 million over the past three years,” he stated.