Daakye Plc’s Asset Value Plummets by GHS 948 Million Year-on-Year
Daakye Plc has reported a significant decline in its financial performance for Q2 2024, with total assets plunging to GHS 395 million from GHS 1.34 billion in the previous year, marking a GHS 948 million year-on-year loss in asset value.
The sharp decrease in total assets is primarily due to a substantial reduction in current assets, which also dropped to GHS 395 million, down from GHS 1.34 billion in Q2 2023.
Notably, the company’s non-current assets, represented by GETFund receivables, remained at zero as of the end of Q2 2024, consistent with the previous year’s figures.
On the liabilities side, Daakye Plc recorded a remarkable reduction, with total liabilities decreasing to GHS 351 million at the end of Q2 2024, compared to GHS 1.31 billion in the same period last year.
The company saw a steep decline in non-current liabilities, which fell to GHS 20.7 million from GHS 1.24 billion, while current liabilities surged to GHS 330.7 million, up from GHS 62.2 million in the previous year.
The company’s total comprehensive income declined slightly, reporting GHS 5.3 million in Q2 2024, compared to GHS 5.5 million in Q2 2023.
This decrease led to a drop in earnings per share, which fell to GHS 5.39 from GHS 5.57 year-on-year.
Daakye Plc’s Q2 2024 financial results underscore the challenges it faces, particularly in managing current assets and addressing the lack of non-current assets.
The company’s ability to restore investor confidence and stabilize its financial position will be critical in the coming quarters.
