The Bulk Oil Storage Company (BOST) has reported a profit of GH¢208 million for the year 2023.

This profit marks a significant turnaround for the company from its equity position in 2021, which was at negative GH¢248 million, to a positive GH¢277 million in 2023.

The profit for 2023 follows GH¢342 million recorded in 2022 and GH¢160 million in 2021, resulting in a cumulative profit of GH¢710 million over the past three years.

As reported by citinewsroom.com, BOST's Board Chairman, Ekow Hackman, announced these figures during the company's Annual General Meeting (AGM) in Accra on July 17, 2024.

He attributed the company's improved financial performance to prudent management practices.

“The overall financial performance of BOST continuous to see remarkable improvements as a result of prudent management. The company’s equity position strengthens from a negative position of GH¢248million in 2021 to a positive GH¢277 in 2023. That is providing a solid foundation for future growth. A profit of GH¢208 million was recorded in 2023.”

“This compares to GH¢342 million in 2022 and a GH¢160 million in 2021 accumulative profit of GH¢710 million over the past three years,” he stated.

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