TOTAL Petroleum and Ghana Oil Ltd (GOIL) earnings up whiles SIC reports loss

Total Petroleum Ghana Ltd, TOTAL have reported a 30.11% growth in net profits, from GHS22.56 million in 2011 to GHS29.36 million in 2012. In the company’s un-audited financial report for the year ended December 2012, revenue was up 28.02% from GHS 971.68 million to GHS1.24 billion.

Ghana Oil Company Limited, also reported a 30.18% growth in earnings, from GHS7.95 million to GHS10.35 million. The company’s assets grew by 38.95% to GHS167.56 million.
SIC Insurace Company Ltd, SIC, have reported a loss of GHS8.07 million, after writing off GHS19 million as bad debt.

Courtesy: CBL Research

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