GOIL grows asset base to GHS 3.37bn in Q1 2022
State-owned Oil Marketing Company (OMC), GOIL, for the first quarter of this year grew its asset base to GHS 3.37bn.
This is from the previous year’s – Q1 2021 – total asset base of GHS 1.67bn, marking a year-on-year increase of GHS 1.7bn.
Accounting for the growth in the OMC’s assets was the surge in its current assets from GHS 587m to GHS 2.09bn from Q1 2021 to Q1 2022 respectively.
The OMC’s non-current assets also grew marginally from GHS 1.08bn to GHS 1.28bn from Q1 2021 to Q1 2022 respectively.
Total liabilities for the review period amounted to GHS 2.83bn, an increase of GHS 1.63bn from the GHS 1.19bn total liabilities posted in Q1 2021.
Per the OMC’s financial results for Q1 2022, total revenue recorded for the first quarter of this year surged to GHS 1.70bn.
This is against the GHS 877m total revenue recorded in Q1 2021.
Based on the GHS 1.70bn revenue recorded for Q1 2022, posted gross profit amounted to GHS 140m.
Net profit for the review period however, amounted to GHS 41.8m with earnings per share pegged at GHS 0.116 for shareholders.
Read details of report below:
pdf (20) by Fuaad Dodoo on Scribd
