Accra, Aug. 18, GNA - Sir Samuel Kofi Asubonteng, Executive Secretary of National Catholic Laity Council, has called on Catholics to patronise the Catholic Standard Newspaper for spiritual upliftment and improvement on their knowledge about issues pertaining to the Catholic Faith and the Church.

He said newly created dioceses should purchase their shares in the Standard Newspapers and Magazines (SNAM) Limited, publishers of the Catholic Standard Newspapers to boost its income. Addressing the Fourth Annual General Meeting of Shareholders of SNAM in Accra on Thursday, Sir Asubonteng expressed disappointment with some parishes for their inability to increase their subscriptions for fear of not being able to sell them because unsold copies could not be returned.

He noted that operations during the year under review 2010, was favourable because management increased revenue from advertisement. "Available audited accounts indicated that revenue from advertisements in 2010 was GH¢48,736 as against GH¢45,184 in 2009," h= e added. Sir Asubonteng said SNAM increased its total income from GH¢210,150 in 2009 to GH¢225,772 in 2010 and commended the management for the improvement.

"The company ended the year 2010 with a profit before tax of GH¢8,755 as against GH¢20,913.00 in 2009 being a decline of 41.86 per cent," he added.

He challenged the management to tour the various parishes to observe their patronage and encourage them to increase their subscriptions.

Sir Asubonteng appealed to parishes indebted to the management to redeem them for improved operations. He said total indebtedness to management by the end of 2010 was GH¢51,528 and urged those indebted to settle them. Sir Asubonteng pledged SNAM's commitment to complement the Catholic Church's effort in evangelism among Catholics and non-Catholics. Certificates were presented to five members who had served on the board for two to 17 years. In an open forum, the shareholders called for a review of the distribution of the newspaper.