• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Total Ghana records Ghs 26.9 million growth in profit in Q2 2021

4 years ago
in Business, Editor's pick, Energy, highlights, Home, home-news, latest News
2 min read
0 0
0
174
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Total Ghana records Ghs 26.9 million growth in profit in Q2 2021

Multinational Oil Marketing Company (OMC), Total Ghana Plc, for end-June 2021, posted a net profit of Ghs 63.9 million.

The posted net profit marks a Ghs 26.9 million growth in the OMC’s profit when compared to the Ghs 37 million profit recorded same period last year.

The posted profit of the OMC is a huge decline from the Ghs 161 million gross profit recorded at the end of the second quarter this year.

Total Ghana’s revenue at end-Q2 2021 stood at Ghs 1.47 billion with its cost of sales amounting to Ghs 1.12 billion hence the gross profit of Ghs 161 million.

Per the OMC’s Q2 2021 Financial Statement, the posted profit of Ghs 63.9 million will result in an earning per share of 57 pesewas for shareholders.

 The earning per share of 57 pesewas is an improvement on the earning per share of 33 pesewas posted for Q2 2020.

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

In terms of assets value, Total Ghana at the end of the second quarter of 2021, inched towards attaining the Ghs 1 billion mark recording a total assets value of Ghs 996 million.

Read This: BoG named Central Bank of the Year for the second time

An increase of some Ghs 156 million from the value of total assets of Ghs 840 million was recorded in Q2 2020.

Non-current assets of the OMC accounted for Ghs 379 million of the value of its total assets with current assets accounting for the remaining Ghs 616 million assets value.

The recorded increment in the value of the assets of the OMC is mainly attributable to some gains made in its current assets.

Elements such as the property, plant and equipment which make up the non-current asset of Total Ghana declined in value from Ghs 286 million in Q2 2020 to Ghs 284 million in Q2 2021.

However, increments in the value of the OMC’s cash and cash equivalents, inventories and trade, and other receivables from Ghs 89 million to Ghs 138 million, Ghs 108 million to Ghs 159 million, and Ghs 231 million to Ghs 291 million, in Q2 2020 and Q2 2021 respectively, largely offset the loses made in Total’s non-current assets.

With regards to total liabilities, Total Ghana’s liabilities for the review period increased to Ghs 599 million in Q2 2021 from Ghs 487 million in Q2 2020.

The increment in Total Ghana’s liabilities was on the account of a surge in its current liabilities which increased from Ghs 470 million to Ghs 583 million.

Its non-current liabilities recorded a marginal decline of almost Ghs 2 million, falling from total non-current liability of Ghs 17.4 million to a total non-current liability of Ghs 15.5 million at end-Q2 2021.

Find below details of the financial statement:

Total Ghana Plc, by Fuaad Dodoo on Scribd

Source: norvanreports
Tags: assets liabilitiesCOVID-19 pandemicghanaGhanaian Oil Marketing Company (OMC)shareholdersTotal Ghana PlcTotal Ghana records Ghs 26.9 million growth in profit in Q2 2021
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.