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Story by, Paul Mensah Nsor
Accra, Ghana - GOIL PLC demonstrated remarkable resilience in 2024, reporting a 54.82% increase in consolidated profit to GH¢84.7 million, despite challenging global and domestic economic conditions.
During the company's 56th Annual General Meeting in Accra, Board Chairman Nana Philip Archer highlighted key achievements, including a 20.1% expansion of consolidated assets to GH¢4.8 billion and a significant 54.3% rise in earnings per share.
The company made strategic advances across multiple fronts, including:
- Inaugurating a new Bitumen Plant in Tema
- Transforming service stations into comprehensive retail hubs
- Expanding corporate social responsibility initiatives
- Constructing seven mechanized boreholes benefiting over 100,000 residents
Looking ahead to 2025, GOIL plans to expand LPG bottling plants in Tema and Kumasi, with a combined capacity of 1,200 metric tons, and aims to penetrate aviation, mining, and auto gas market segments.
The company maintains a proposed dividend of GH¢0.056 per share, balancing shareholder returns with long-term financial stability.
