The revenue of Benso Oil Palm Plantation (BOPP) rose by 14.1%y/y to GHS89.67 million for the first nine months of 2020 (9M-2020), driven by 37.%y/y rise in the price of Crude Palm Oil to USD798.12 per MT in September 2020. The price Palm Kernel Oil also increased by 25.1%y/y to USD767.14 per MT in September, according to data from the World Bank. The company’s margins were also buoyed...
Read MoreThe contraction in Ghana’s GDP by 3.2%y/y in the second quarter of 2020 on the back of the impact of the covid-19 pandemic on economic activity translated into a 6.7%y/y contraction in the revenue of Unilever Ghana to GHS319.82 million in 9M-2020 from GHS342.90 million in 9M-2019. However, like other companies in the consumer goods space, we expect the rebound in consumer confidence to boost the company’s sales in the...
Read MoreFan Milk’s revenue dropped by 19.1%y/y to GHS267.12 million in 9M-2020 on the back of the impact of the coronavirus pandemic, which significantly limited the movement of people including the company’s sales boys who use bicycles to penetrate communities and local markets. However, since the lockdown in Q2, we have seen rising consumer confidence that could help the company to make up for some of the lost revenue in the...
Read MoreCAL Bank’s gross revenue grew by 11.7%y/y (vs. 15.4%y/y in 9M-2019) to GHS810.62 million in 9M-2020 despite contraction in fees and commissions arising from slowdown in banking activity during the pandemic and waiver of some fees as part of covid-19 relief package to customers. Revenue was driven by a 7.4%y/y rise in interest income on the back of 8.7%y/y expansion in the loan book to GHS2.69 billion in 9M-2020. Furthermore,...
Read MoreGuinness Ghana Breweries Limited (GGBL) has announced 31.7%y/y rise in topline to GHS207.29 million for the first quarter (July-September 2020) of its 2021 financial year. Consumer confidence, which hit a low during the coronavirus lockdown in April, has been recovering the last four months according data from the central bank. This has been a huge boost to the fortunes of consumer goods companies such as Guinness Ghana. GGBL’s revenue performance...
Read MoreSociete Generale Ghana Limited’s (SOGEGH) revenue grew by 10.9%y/y to GHS505.52 million for 9M-2020, largely driven by 14.9%y/y growth in interest income. Non interest revenue grew by just 1.1%y/y to GHS135.81 million as slowdown in activity during coronavirus period adversely affected the growth of fees and commissions. However, the cost-to-income ratio rose to 58.0% in 9M-2020 from 56.9% in 9M-2019 as a result of a 9.5%y/y rise operating expenses to...
Read MoreBenso Oil Palm Plantation's (BOPP:GSE) revenue rose by 20.1%y/y to GHS55.14 million in the first half of 2019 despite 16.8%y/y drop in the average Crude Palm Oil (CPO) price during the period. We believe that revenue was driven by improved CPO
Read MoreSignificant growth in earning assets drives revenue: Ecobank reported 18.6%y/y recovery in revenue (versus a decline of 8.3% in FY2017) to GHS1.52bn in FY2018 on the back of significant increase in earning asset
Read MoreRevenue growth slows on drop in loan book: Standard Chartered Bank Ghana Limited (SCB:GSE) reported a lower revenue growth of 5.9%y/y (versus 11.6%y/y in FY2017) to GHS852.14million in FY2018. Interest income gr
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