BOPP posts GH¢9.59million in 2011
5/14/2012 12:33:22 PM -
Profits from the Benso Oil Palm Plantation Limited (BOPP) amounted to GH¢9.59 million last year compared to the GH¢2.267 million it recorded in 2010.
This year's profit is about 25 per cent higher than last year's and was as a result of increase in volumes, upward movement in world market price of crude palm oil, and the positive impact of cost saving initiatives implemented by BOPP's management in the 2011 operational year.
The company has consequently declared dividend totalling GH¢2.4 million to be paid to its shareholders.
Mr Ishmael Yamson, Chairman of the Board of Directors, announced these at the company's annual general meeting at Takoradi recently.
He said BOPP processed 82,154 metric tonnes of fresh palm fruits, representing an increase of 30 per cent as compared to the 2010 fiscal year.
Mr Yamson said the success was due to good rainfall pattern and good agronomical practices that contributed to higher productivity.
He said the company also purchased 38,901 metric tonnes of fresh fruit bunches valued at GH¢5.8 million from small holder and out grower farmers in the Western and Central regions
The board chair disclosed that the company was supporting 18 brilliant needy students in senior high school in Adum-Benso, Benso, Adum-Dominase and Manso areas.