Clydestone Ghana Public Limited Company (PLC), listed on the Ghana Stock Exchange (GSE) under the ticker symbol CLYD, reported profit after tax of GHS 463,962 for the year ended 31 December 2025, down sharply from GHS 3.95 million in 2024, as the Board withheld dividends and absorbed heavy investment costs to prepare for a growth push in 2026.
Revenue held broadly flat at GHS 23.64 million against GHS 23.92 million the prior year, a marginal decline of 1.2%. The Board attributed the narrow gap to a product cycle shift that removed GHS 2.18 million in Europay, Mastercard, and Visa (EMV) card revenue from the 2025 books. Stripping out that line, core recurring revenue grew, with ATM sales anchoring the business at GHS 18.28 million. The Smart Source revenue line surged from GHS 65,352 to GHS 1.10 million, a gain of approximately 1,587%.
Four cost items compressed the bottom line. Directors’ remuneration rose from GHS 842,670 to GHS 2.15 million, a figure the Board called a correction to market-rate executive compensation following years of below-market pay. General and administrative expenses climbed to GHS 4.73 million from GHS 3.22 million. Depreciation surged to GHS 612,944 from GHS 131,973, tied to GHS 931,657 invested in motor vehicles, computers, and office equipment. Interest and financial charges reached GHS 1.04 million against GHS 666,862 in 2024, partly reflecting a new finance lease arrangement for two operational vehicles under International Financial Reporting Standards (IFRS) 16.
The Board described all four factors as either non-recurring, directly attributable to productive investment, or a necessary foundation for growth, stating that underlying operational performance “remained stable throughout FY2025.”
Cash and cash equivalents closed at GHS 1.08 million, down from GHS 8.74 million at year-end 2024. The company deployed the large prior-year cash balance to settle legacy levy and regulatory payables, cutting other accounts payable from GHS 9.22 million to GHS 5.15 million and clearing trade payables entirely. Dividends of GHS 1.09 million relating to 2024 earnings were also paid out during the year.
Total assets stood at GHS 15.81 million at 31 December 2025, compared with GHS 19.90 million in 2024. Earnings per share fell to GHS 0.01365 from GHS 0.1162. No dividend was recommended for FY2025.
Looking forward, the company is pursuing three strategic pillars under its Three-Year Plan running from 2026 to 2029. The first focuses on banking branch automation, ATM deployment, and maintenance contract expansion across Ghanaian financial institutions. The second targets card issuing and processing under the UnionPay International network, for which Clydestone holds Principal Acquirer and Third-Party Processor status, a distinction shared by very few institutions in West Africa. The third involves building a third-party payments Application Programming Interface (API) platform to serve fintech firms, mobile money operators, and diaspora remittance providers.
Clydestone holds an Enhanced Payment Service Provider (EPSP) licence from the Bank of Ghana, the highest authorisation tier for payment service providers in the country, and remains integrated with the Ghana Interbank Payment and Settlement Systems (GhIPSS) infrastructure with national service points in Accra, Kumasi, Tamale, and Takoradi. The financial statements were audited by PKF and approved by the Board of Directors on 13 May 2026.
