TotalEnergies Marketing Ghana Reports 71% Surge in Profit for 2024
TotalEnergies Marketing Ghana PLC reported a 71% jump in profit after tax to GHS 286.67 million for the year ended December 31, 2024, from GHS 167.91 million in 2023, driven by higher revenue and improved margins.
Revenue rose 16% year-on-year to GHS 6.99 billion, reflecting increased sales and strategic market positioning.
However, cost of sales climbed to GHS 6.21 billion from GHS 5.43 billion, tempering overall profitability. Gross profit reached GHS 781.54 million, up 28% from the previous year.
Operating profit before financing costs stood at GHS 480.76 million, a 49% increase from GHS 322.35 million in 2023, despite rising general and administrative expenses.
Basic earnings per share climbed to GHS 2.5624, compared with GHS 1.5009 a year earlier.
The company’s performance underscores its resilience in Ghana’s competitive petroleum market, with a focus on operational efficiency and sustainable growth.
