Business News of Saturday, 20 January 2018
Source: citibusinessnews.com
2018-01-20
The company has addressed most of the challenges it faced in 2015
The Chief Executive Officer of Starwin Products Limited, Yaw Opare Asamoah has told Citi Business News the company is consolidating its operations to make it one of the leading pharmaceutical companies in the country.
According to him, the company has addressed most of the challenges it faced in 2015.
Speaking to Citi Business News after an Annual General Meeting(AGM) in Accra, Mr. Opare Asamoah stated that, Starwin Products Limited saw a growth rate of about 59 percent in 2016.
He pointed out that the growth has inspired the company to work harder for better results.
“Going forward, we should see some more significant gains and consolidation, because the challenges that we had in the past are being addressed and things are looking up and getting better,” he assured.
On the financial performance, the company recorded an increase in revenue from 5,762,183 cedis in 2015 to 9,172,862 cedis in 2016.
Meanwhile, profit after tax for 2016 hit 3.8 million cedis compared to a loss of one hundred and fifteen thousand cedis in 2015.
The company announced a dividend of GHS0.001per share.
On his part, the chairman of the Board of Directors, Mr. Nik Amarteifio said the company is consolidating and aligning its operations with the mother company.
“I would like to thank you for the tremendous support you have contributed during the past couple of years. Now as a company, we are turning the page onto a new horizon,”—he told shareholders and some staff of the company.