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14.06.2007 General News

Mechanical Lloyd Profits Dip

Mechanical Lloyd Company Ltd, dealers in automobiles, has recorded a turnover of ¢125.2 billion at the end of the 2006 financial year, as against ¢111.7 billion in 2005.

A speech read on behalf of the Chairman of the Board, Mr Yaw Manu Sarpong, said gross profit stood at ¢8.81 billion as against ¢10.06 billion, in 2005. The company declared a dividend payment of ¢40 per share.

On the performance of the various products of the company, Mr Sarpong said the Ford line did very well and that the company expected the product to do even better when its saloon cars were introduced onto the market.

He said BMW did not do as expected, although the X5 brand did very well. The company expected the product to do even better when the new model was introduced onto the market.

Massey Ferguson, he declared, had a rather poor year, and that the company expected to increase its sales in the coming year.

He said the third phase of the DAFBus project had kicked off, with the first 20 out of 75 buses already assembled by Neoplan in Kumasi.

Story by Nana Akua A. Mensa-Bonsu