On the Ghana Stock Exchange (GSE,) Benso Oil Palm Plantation [BOPP], in a recently released earnings report for 2016FY recorded a 27.89% growth in revenue during the period.
Turnover of the company increased from GHS 58,077,000 in 2015FY to GHS 74,278,000 in 2016FY.
Operating profit for the period also increased by 35.35%; from GHS 7,519,000 in 2015FY to GHS 10,177,000 in 2016FY.
Finance Income during the period; however fell by 37.62%; from GHS 848,000 in 2015FY to GHS 529,000 in 2016FY.
Net Profits also increased by 18.77%; from GHS 8,155,000 in 2015FY to GHS 9,686,000 in 2016FY. Dividend declared during the 52 weeks period fell from GHS 2,458,000 in 2015FY to GHS 1,631,000 in 2016FY; representing a 33.65% dip in dividend amount.
Total Asset value of the company inched up marginally by 1.65% from GHS 63,798,000 in 2015FY to GHS 64,849,000 in 2016FY.
BOPP has seen a 6.25% YTD returns on the stock. Further capital gains are anticipated on the equity on the back of improved fundamentals and positive projection of the company’s performance.
Also, the impact of good rainfall from prior years, best management practices and sustained nutritional programme is expected to improve the Fresh Fruits Bunch yields in 2017. With the world market prices of Crude Palm Oil also anticipated to improve, the firm’s performance and shareholders’ value are expected to be better in 2017 compared to 2016. GN Analysts recommend BOPP as a BUY.
Trading activity on the bourse ended with 3 gainers [SCB and ETI] and 1 loser [ETI] yesterday.
SCB topped the trading chart in terms of volume as 200,000 shares worth GHS 2,670.00 changed hands. Returns on the Composite and Financial Stock Index pegged at 7.07% and 9.58% respectively.
Trading activity on the Ghana Alternative Market (GAX) ended yesterday with 100 shares of Intravenous Infusions Limited [IIL valued at GHS 9.00 changing hands.
HORDS currently lead record capital gains on the GAX, appreciating by 25% from 2016 year open.
The Cedi LOST marginally to the US Dollar yesterday. The local currency however recorded marginal gains against the British Pound and Euro.
The local currency exchanged at a mid-rate of GHS 4.3737 to the USD, GHS 5.4472 to the GBP and GHS 4.6245 to the EURO.
The GCFM Cedi index, a measure of the holistic performance of the Cedi on the inter-bank market now records a year-to-date depreciation of 4.28%.
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