Ghana Publishing Company Records a 661% Surge in Profit After Tax

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The Ghana Publishing Company Limited recorded a 661.36% increase in profit after tax in 2025, following a significant improvement in its financial performance, with audited figures showing that the state-owned publishing institution’s profit increased.

Presenting the company’s performance at the Government Accountability Series, the Managing Director, Nana Kwesi Boaitey, ESQ, attributed the turnaround to financial discipline and management interventions, which helped the institution move from severe liquidity difficulties towards a more sustainable financial position.

“Now, in the end, by close of the year 2025 when our financials were audited, these were some of the landmarks that were chalked… ultimately, profit after tax that after the audit was 16,959,881 compared to the 2024 figure of 2,227,563.”

The audited results also indicate substantial growth in revenue, which increased from GH¢60.78 million in 2024 to GH¢72.85 million in 2025, representing a rise of 19.87%. Despite the higher cost of sales, which moved from approximately GH¢37.40 million to GH¢37.84 million, the company recorded a marked improvement in gross profitability.

Gross profit climbed from GH¢23.38 million in 2024 to GH¢35.01 million in 2025, representing a 49.76% increase. Mr Boaitey identified the improvement as “evidence of the institution’s stronger financial position” particularly given the liquidity constraints management encountered upon assuming responsibility.

The company’s operating profit also registered a considerable increase, rising from GH¢2.95 million in 2024 to GH¢19.58 million in 2025. This represents a growth of 564.66%, reflecting a substantial improvement in the returns generated from its operations.

Furthermore, profit before tax rose from GH¢3.41 million in 2024 to GH¢21.44 million in 2025. The figures underline the scale of the institution’s financial recovery, although the percentage increase for this category requires confirmation against the audited accounts.

Mr Boaitey attributed the progress to stringent financial management, explaining that management exercised “considerable restraint in its expenditure” to generate the resources required for investment and operational improvements.

He expressed confidence in the company’s prospects, projecting that its 2026 performance would surpass the previous year’s results by a significant margin. As of October 2026, he indicated that management was already anticipating a stronger annual outcome.

The Managing Director consequently characterised the 2025 results as evidence that The Ghana Publishing Company is recovering from financial distress and moving towards sustained profitability.

Beyond its improved financial results, the Ghana Publishing Company Limited is anticipating increased government printing work following a Cabinet decision.

Speaking at the Government Accountability Series, The Managing Director, Nana Kwesi Boaitey, ESQ indicated that the company is also awaiting a contract to print textbooks under the Government’s free textbook programme, following the Finance Minister’s announcement during the presentation of the national budget earlier in the year.

“Cabinet has given a cabinet decision that 20% of all government printing work should come to the Ghana Publishing Company.”

The Managing Director expressed appreciation to the sector minister for championing efforts to secure business opportunities for the institution, identifying the intervention as important to its commercial recovery. He further indicated that management has engaged the Finance Minister, Honourable Cassiel Ato Forson and is hopeful of receiving the free textbook printing contract.

However, the company is still awaiting the formal award of the assignment, with the Managing Director emphasising its readiness to undertake the work. He also called on state institutions to channel their printing requirements to the company, expressing confidence in its capacity to deliver quality publications.

The proposed allocation of government printing work could provide the institution with an important source of business, particularly as management seeks to consolidate the financial improvements recorded in 2025. Nevertheless, the Managing Director’s remarks indicate that the company is still expecting government agencies to utilise the opportunity created by the Cabinet decision.

Mr Boaitey further explained that the financial discipline required to undertake the company’s recent investments had involved considerable restraint in management expenditure. He noted that the institution prioritised the resources needed to improve its operations while pursuing opportunities to expand its commercial activities.

In addition to the anticipated government assignments, the Managing Director expressed confidence that the company could deliver stronger financial results in 2026. He also indicated management is expecting to exceed the previous year’s performance by a significant margin by.

The Ghana Publishing Company’s pursuit of government printing contracts therefore remains an important part of its commercial outlook, as it seeks to translate improved financial management and operational capacity into sustained business growth.

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