By
Patrick Obeng, GNA
Accra, Nov. 14, GNA
– PZ Cussons Ghana Limited recorded a
net profit of 42.5 million Ghana cedis in 2019 as against 6.5 million Ghana
cedis in 2018.
However, revenue
fell from GH¢111.6 million to GH¢106.5 million representing a decline of 4.5
per cent while operating profit improved at GH¢28.6 million as compared to GH¢3.3
million in the year under review.
Mr Paul Kwabena
Pepera, the Board Chairman, disclosed this at the 61st Annual
General Meeting in Accra.
He said the outcome
of the company’s operations, this year, was reflective of the commitment to a
sustainable growth agenda.
Mr Pepera said
business remained strong and solidly positioned for sustainable performance and
returns on investment in the years ahead.
“We are committed to
increasing shareholders’ value by optimizing the marketing and distribution of
our products and providing consumers with quality products that suit their
daily needs and aspirations whilst we continue to fulfil our corporate social
responsibilities,” he said.
Mr Pepera said
despite the challenges the company faced as a result of the cleaning up of the
financial sector, it continued to remain solid in the midst of those challenges
by putting firm measures in place to sustain the strong position in the
market.
“Our main focus
brands continue to be Camel/Carex, Nunu, Cussons Baby and Robb, which have
maintained their leading market positions due to the company’s continued
investment in people, distribution and brand equity building activities,” he
said.
Mr David Afflu, the
Managing Director of the company, said Management would profitably grow the
business, strengthen its portfolio, and enhance the lives of employees and
consumers and all other stakeholders by living and breathing the shared values.
GNA
