Ghana’s GIHOC targets West African market
GIHOC Distilleries Company Limited (GDCL) has registered three of its products with the National Agency for Food and Drug Administration and Control (NAFDAC) of Nigeria, as part of it plans to capture the West African Sub-region market.
The products are Herb Afrik Gin Bitters, Madingo Bitters, and Takai.
Additionally, the alcoholic beverage company has installed a fully automated bottling lines and automated bottle washing plant to infuse efficiency of its operations.
The Managing Director of GDCL, Ms Kay Kwao Simmonds, made this known today (Wednesday) at this years Annual General Meeting in Accra.
According to her, the ongoing modernisation and expansion of the company’s factory, which was expected to be finished in December 2012, was in line with the International Organisation for Standardisation (ISO) Certification.
“Moreover, the modernisation and retooling of the factory is expected to bring down direct operational cost, which will go a long way to reduce production costs and increase profit before taxation,” Ms Simmonds said.
Touching on the financial performance of the company, she said the sales revenue for 2011 was increased by 10 per cent over the 2010 year figure, stressing “this increased from GH¢23.539 to GH¢ 25.996 million.
“The increase was due to volume increase as against changes in pricing.The volume increased from 5.321m to 5.881m litres. Net profit after tax for the year under review increased from GH¢1.298 million to GH¢2.222 million, an increase of over 71 per cent over the previous year’s,” she said.
Ms Simmonds observed that aside GDCL producing alcoholic beverages to satisfy the Ghanaian consuming public, the company has also been fulfilling its corporate social responsibilities (CSR) to the general public.
According to her, under the 2011 year review, GDCL had supported various groups and institutions in the country to the tune of GH¢ 9,300 under its CSR.
The Board Chairman of GDCL, Dr Kwame Asante, said the company would soon inaugurate a new distillery with modern, state of the art plant and equipment.
That, according to him was in line with GDCL implementation of five year strategic plan (5-SP), which was given a boost by a concessionary loan of GH¢ 5 million provided by Export Development Investment Agriculture Fund (EDIAF).
Source: Daily Graphic