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Ghana Stock Exchange removes Clydestone from watchlist

The Ghana Stock Exchange wishes to announce to all market operators, stakeholders and the general public that Clydestone Ghana Limited has been taken off the Exchange's “Watch List".

CLYD, represented by the Chief Executive Officer, other directors and executives came on the “Facts behind the Figures" programme in June 2018. The presentation threw light on the current operations of the company.

The CEO highlighted prospects they envisage in the short to medium term including new businesses as well as improvement in bottom line which they believe will be sustained going forward.

For the first quarter to March 2018 and the half year to June 2018, the company's revenue improved compared to the same period of 2017. It recorded GH¢1.55 million and GH¢2.90 million respectively. CLYD also recorded profit after tax for Q1 2018 of GH¢111,500 (loss of GH¢126,300 for Q1 of 2017) and a profit after tax for the half year to June 2018 of GH¢105,400 (loss of GH¢126,300 for the same period in 2017).

On the basis that, the GSE announced that Clydestone's “Watch List" status will be maintained but lifted at the end of September 2018 if the improvement seen is sustained. Clydestone submitted its third quarter ended September 2018 results on November 1, 2018 which showed a sustained improvement in the fortunes of the company. In view of that Clydestone Ghana Ltd is no longer on the GSE's Watch List with effect from November 8, 2018.


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