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GSE Trading Results

Large Finance Cost Causes Higher Loss for ABL in the Full Year Ended March 2010
SAS Research+ | Industry Report

ABL more than doubled its loss in the full year ended March 2010, despite an improved top-line, due to a large growth in finance cost for the period. The brewery’s turnover rose by 10.9% to GH¢47.40 million, whilst its cost of sales rose by 49.5% to GH¢29.96 million. Its gross profit for the period therefore rose by 28.3% to GH¢17.45 million.

ABL’s operating expenses also rose at a slower rate during the year, and pushed its loss before interest lower by 93% to GH¢0.10 million.  The company however recorded a 649.3% increase in its finance cost (interest on bank overdraft) to GH¢7.12 million which eroded all the improvements recorded in its top-line, and pulled its loss before tax 180.7% higher to GH¢6.81 million.

 

ABL’s loss after tax rose by 153.2% to GH¢5.67 million in the full year.

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