Starwin makes modest gains Starwin Products Limited (SPL) has recorded a modest improvement in its financial performance during the first quarter of the 2008 financial year. The company recorded a net profit of GH ¢36,735 for the first quarter of the year.
SPL recorded sales revenue of GH ¢580,764 showing 26% growth over GH ¢462,268 recorded during same period in the previous year, whilst cost of sales increased by 20% from GH ¢ 216,580 to GH ¢260,096. General Administrative and Selling Expenses also increased from GH ¢191,138 to GH ¢228,184. These resulted in a net profit of GH ¢36,735 for the period as compared to GH ¢26,693 for the same period in 2007. This signifies 38% growth.
Starwin Products Limited is a manufacturer, importer and exporter of pharmaceutical products. Some of the company's notable brands include Rapinol, Painoff, Plasmoquin, Winolon and Starwin Liver Salt originally called Andrew Liver Salt.
SPL was listed in December 2004. The performance of the company's equity on the Exchange has been less impressive probably as a result of less inspiring financial performance. The equity was listed at GH ¢ 0.050 per share. Since then, the price per share increased to an all- time-high of GH ¢0.076 in January 2005, after which it consistently fell to the IPO price. It is currently trading at a price per share of GH ¢0.050 and at a Price to Earnings ratio of 25 multiples, one of the highest on the Exchange.
GHANA STOCK EXCHANGE NEWS
GSE Index Performs Impressively
The GSE All-Share Index continued its impressive performance for the week. It appreciated by 243.20 points from last week's closing index of 9,924.35 points to end the week under review at 10,167.55 points.
The year to date change of the Index is 54.06%.
GOIL Leads Market Trade
A total of 1,088,334 shares traded for the week under review. Ghana Oil Company Limited recorded trade of 275,380 shares to lead by way of volume for the week. CFAO Ghana Limited, SIC Insurance Company, Ecobank Transnational Incorporated, Guinness Ghana Breweries Limited and CAL Bank Limited traded 272,455, 130,428, 99,724, 64,591 and 44,460 shares respectively. Ayrton Drugs Manufacturing Company, Enterprise Insurance Company, Ecobank Ghana and Benso Oil Palm Plantation also recorded significant volumes of trade for the week. PZ Cussons Limited was the least traded equity recording trade of 300 shares for the week.
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