{"id":1052475,"date":"2022-04-11T09:56:13","date_gmt":"2022-04-11T09:56:13","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/04\/11\/bost-records-%c2%a2291-02m-loss-in-2020\/"},"modified":"2022-04-11T09:56:13","modified_gmt":"2022-04-11T09:56:13","slug":"bost-records-%c2%a2291-02m-loss-in-2020","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/04\/11\/bost-records-%c2%a2291-02m-loss-in-2020\/","title":{"rendered":"BOST records \u00a2291.02m loss in 2020"},"content":{"rendered":"

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coronavi<\/figcaption><\/figure>\n<\/div>\n

The Bulk Oil Storage and Transportation (BOST) posted a loss of \u00a2291.02 million in 2020, according to the 2020 State Ownership Report.<\/p>\n

This represents a 186.97% increase on the net loss of \u00a2101.41 million recorded in 2019.<\/p>\n

Net profit margin was -44.81%, which represents an increase of 27.95 percentage points from the -17.05% recorded in 2019.<\/p>\n

Total revenue, however, increased by 9.19% from \u00a2594.75 million in 2019 to \u00a2649.43 million in 2020. Total revenue increased by an average of 4.11% per annum between 2016 and 2020.<\/p>\n

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Revenue from operations increased by 21.29% from \u00a2521.60 million in 2019 to 632.66 million in 2020.<\/p>\n

The report further said that the current ratios of 0.9 (2019) and 0.35 (2020) indicate BOST declining ability to service its short term obligations as they fall due.<\/p>\n

In terms of key operational performance, the report said inadequate capital resulted in an Import PMS quantity of 223,500MT against a target of 59,305.46MT. <\/p>\n

Again, due to insufficient financing, a total of 83,359.97MT of automotive gas oil (AGO) was imported as against the targeted 236,200MT.<\/p>\n

In terms of the 2020 Performance Contract, the report said BOST achieved a total weighed score of 3.04, which represents an Above Average performance, based on the normalised five-point scoring scale. <\/p>\n

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