May 22, 2022


Claims BOST recorded GH¢400 million in losses erroneous – Control

2 min read

The control of the Bulk Oil Garage and Transportation Corporate Restricted (BOST) has rejected claims that it made a lack of GH¢400 million.

Insisting that BOST is winning, control of the corporate defined that the company remodeled GH¢9.8 million benefit sooner than tax in 2020, the primary time since 2016.

“The document of the GH¢400 million losses made through BOST isn’t correct. To measure the profitability and operational potency of a trade, one will have to resolve whether or not the underlying operations (core trade) of the corporate are winning,” control of BOST argued in a commentary.

“The Managing Director in his submission at SIGA used to be emphatic that the corporate accomplished a benefit sooner than tax of GH¢9,844,673 as opposed to an estimated GH¢30 million in yr 2020 as in opposition to a lack of GH¢158,478,676 in 2019. The certain internet benefit sooner than tax attained in 2020 implies a large turnaround of the operational fortunes of the corporate”.

Some media platforms had insisted that, a document launched through the State Hobby and Governance Authority (SIGA) had disclosed that BOST made a lack of GH¢400 in 2020, opposite to previous claims through MD of the corporate, Edwin Provencal, that the company had made a benefit of about GH¢30 million.

However BOST mentioned the stories through one of the most media platforms don’t paint the actual image.

“This enhanced efficiency used to be pushed through in depth operational potency tasks together with, however now not restricted to giant restore works of our garage tanks, pipelines and marine belongings, alternative of outdated portions around the amenities of the corporate within the closing two years supported through advanced advertising and marketing and customer support. Previously two years, our income-earning belongings have advanced from 18% to 91%,” BOST control added within the commentary.

Under is the overall commentary from BOST:

Amenorhu kwaku

Amenorhu Kwaku

Amenorhu kwaku is an writer, web marketer and entrepreneur. He’s the founding father of SuccessValley, a community group for college students and aspiring marketers