GOIL Plc improved its performance in 2021 by registering a profit after tax of GH ¢98.74 million, up by 9% compared to that of 2020.

Earnings per share also increased from GH¢0.23 in 2020 to GH¢0.253. While total assets also increased from 2.1 billion cedis to 2.5 billion cedis. Shareholders are therefore to benefit from a final dividend of GH¢0.047 per share as compared to the 2020 dividend of GH¢0.045.

 Board Chairman, Mr. Reginald Daniel Laryea disclosed this to shareholders at the 53^rd Annual General Meeting (AGM) held in Accra. This year’s virtual AGM was joined by Shareholders both in Ghana and abroad, who accessed, voted, and passed various resolutions proposed by the board.

In a report to Shareholders, Mr. Reginald Daniel Laryea said, the volume of sales of fuels was approximately 886.6 million litres, about 11% above that of the previous year, thus overtaking growth in the industry which was 9%. The biggest contribution to sales revenue, he noted, was the performance of “Diesel” and “Super” especially Super XP RON 95.

According to the Board Chairman, the mix of other products including lubricants and specialized sales to specific industries like the mines and bunkering achieved mixed results but their contribution to the bottom line was positive.

On Corporate Social Responsibility, the Board Chairman said the company remained committed to identifying the needs of deprived communities and organizations by providing them with potable water, health and sanitation facilities to improve the well-being and quality of lives of the disadvantaged.

Touching on the future outlook of the company, Mr. Reginald Daniel Laryea said the board was confident that the bold initiatives, especially, the LPG & Bitumen plants, alongside its determination to find a suitable partner to replace Ezzon Mobil in the upstream endeavors are game-changers that will definitely propel GOIL to the next level.

Answering questions on the Bitumen plant, the Group CEO/MD of GOIL Plc, Mr. Kwame Osei Prempeh said production will start a test run in July, and full production will begin in August this year to enable the company to start enjoying the benefits of its investment.

The Chief Operating Officer, Mr. Alex Josiah Adzew, also said over 240 GOIL service stations now accept the use of Mobile Money, Go Cards, and Visa Cards as modes of payment. He assured that efforts were being made to ensure that all the GOIL service stations nationwide operate cashless to avoid rampant robbery attacks at service stations.