The Benso Oil Palm Plantation (BOPP) Plc final yr recorded a revenue of GH¢24.6 million, relative to the GH¢9.8 million recorded the earlier.
This signify a 256 per cent development of the determine recorded in 2019.
The Director and General Manager of BOPP Plc, Samuel Avaala, who disclosed this through the firm’s flip of the Fact Behind the Figures collection of the Ghana Stock Exchange in Accra on Tuesday, stated efficiency got here on the again of the sustained operational efficiencies, sturdy manufacturing volumes and the restoration of world market crude palm oil costs which begun early 2020.
He stated the revenue for second half of 2021 stood at GH¢37.8 million, representing 289 per cent enhance of prior yr ranges.
Mr Avaala indicated that the 2021 half yr topline development of 63 per cent was as a result of bullish world market crude palm oil costs coupled with the upper crop productiveness from each the nucleus plantation and the smallholders and outgrowers.
“Operational efficiencies have also seen sustained high levels and continues to improve while cost disciple practices have ensured that unit production cost have remained controlled in line with plan,” he stated.
The General Manager stated BOPP Plc was set to take care of the sturdy revenue development to the tip of yr by leveraging on its core competencies for manufacturing and making the most of the bullish world market worth development.
“The company is committed to conducting its business in a socially responsible and ecologically sustainable manner through to use internationally accepted best practices which deliver sustainable stakeholder and shareholder value,” Mr Avaala, stated.
In a quick background concerning the firm, he stated based mostly at Adum Banso Estate within the Mpohor district of the Western Region, Benso Oil Palm Plantation PLC was established in 1976 by a JV between UAC Ghana and the Government of Ghana.
He stated Land preparation and planting began in 1976 and the second technology replanting was accomplished in 2017 after systematically felling the primary technology palms in accordance with financial life cycle traits.
“The government of Ghana and UAC (Unilever) divested their interest in the company in 2004 and 2011 respectively and now Wilmar Africa Ltd (producers of the frytol brand and a subsidiary of Wilmar International which is listed on the Singapore exchange) are the majority shareholders with more than ten thousand individual and institutional shareholders including SSNIT also as shareholders,” Mr Avaala, stated.
He stated the corporate is listed on the Ghana Stock Exchange since 2004 and cultivated oil palm, and produces crude palm oil which was provided to Wilmar Africa Ltd in Tema the place it was refined into frytol cooking oil whereas the tougher fractions went into the making of JAMA Soap.
BY TIMES REPORTER
