The first half financial results for 2012 are coming in from the various companies listed on the Ghana Stock Exchange. Let’s look at them one by one, starting from Benso Oil Palm Plantation.An unaudited financial result released by Benso Oil Palm Plantation (BOPP) dated 30th June 2012 reveals that, the company’s profit before tax was up 122% against same period last year.
BOPP is currently priced at GHC 1.57 on the Ghana Stock Exchange and has recorded some impressive figures.
The revenue recorded for the second quarter in 2012 was GHC 15,068 as compared to GHC 11,938 in the same period last year. Moreover, the operational and financial performance of BOPP revealed that, revenue went up by 2.4% from GHC 23.4 million to GHC 23.9 million due to increase in Crude Palm Oil (CPO) production.
The improved CPO, as stated in the report, is as a result of good agricultural practices embarked upon by management which saw Oil Exploration rate improved by 1.5% points. It was further revealed that, the operating profit for the period grew by 119% as against the same period last year.
Looking closer at others indicators, the company recorded an Earnings per share of 0.2038 pesewas (p) from January to June 2012 and 0.0933p same period last year. Meanwhile, for the second quarter of this year, 0.1249p was recorded as earnings per share.
On the Ghana Stock Exchange, BOPP saw some ups and downs in the first half of the year. Below is the price movement of the stock on the exchange from January to July.
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| Half Year Price movements on the Ghana Stock Exchange. Courtesy: Bloomberg. |
Outlook for the Third Quarter:
The company expects performance in the third (3rd) quarter to slow down as compared to the first and second quarters since the quarter has started with a downward trend in the World Market Price of Crude Palm Oil and with the lean season ahead.
Follow the rest of the Earnings on the GSE : Half Year Earnings for Companies on GSE
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