Ayrton Drug records 153% profit
Ayrton Drug Manufacturing Limited recorded a net profit of GH¢2,598,241 in 2016 as against a loss of GH¢4,822,000 in 2015, an increase of 153.9 per cent.
Turnover also rose from GH¢34,892,733 in 2015 to GH¢38,772,241, an increase of 11.12 per cent.
Mr Richard Adu-Poku, the Board Chairman of the company, disclosed this at the company’s11th Annual General Meeting in Accra on Thursday.
He said the year under review saw the turnaround of the company in terms of top line sales and profitability despite the challenges and difficulties the Ghanaian economy was faced with.
Mr Adu-Poku said the company continued to strengthen its portfolio and supply chain processes.
He said product portfolio optimisation, cost optimisation, distribution model optimisation and the strengthening of sales and product detailing had all progressed well.
The Board Chairman said the company’s top 10 brands, including Teedar, Samalin, Virol and Panacin continued to attract and drive growth in the market.
He noted that the future of the company is promising as it is now poised for sustainable and profitable growth.
“Successful execution of the transformation and restructuring strategy has built a strong foundation to propel us to the next level of growth,’’ Mr Adu-Poku said.
No dividend was recommended for payment to the shareholders.
Source: GNA