GOIL PLC increased net profit by 7.05 percent in 2025 despite a decline in revenue, as lower debt obligations and reduced financing costs helped cushi
GOIL PLC increased net profit by 7.05 percent in 2025 despite a decline in revenue, as lower debt obligations and reduced financing costs helped cushion the impact of challenging global market conditions, according to the company’s latest financial report.
Profit after tax rose to GH¢90.67 million from GH¢84.70 million in 2024, while revenue fell by nearly GH¢1.8 billion to GH¢18.55 billion from GH¢20.36 billion a year earlier.
The stronger earnings performance came as the company cut overdrafts and term loan obligations, reduced finance costs and tightened operational spending, helping to strengthen its balance sheet during a year marked by volatile crude oil prices and continuing supply chain disruptions.
GOIL’s total assets increased to GH¢4.88 billion at the end of 2025, while earnings per share rose by 6.94 percent. Total comprehensive income climbed by 33.9 percent to GH¢119.15 million.
Chairman of the Board of Directors, Nana Philip Archer, said the results reflected a deliberate focus on efficiency and cost management across the business.
“Depot and station expenses, administrative costs and finance expenses all recorded meaningful reductions, reflecting a deliberate commitment to operational excellence and cost optimisation,” he told shareholders at the company’s 57th Annual General Meeting (AGM).
Mr. Archer said lower overdrafts and term loan obligations contributed significantly to the improvement in GOIL’s financial position and supported the growth in comprehensive income during the year.
The performance was achieved against a backdrop of improving macroeconomic conditions. Inflation fell to 5.4 percent in December 2025 from 23.8 percent a year earlier, while the cedi strengthened against major trading currencies and the Bank of Ghana eased monetary policy by lowering its benchmark interest rate.
Ghana’s economy expanded to about US$108.1 billion in 2025, supported by growth in the services, agriculture and industrial sectors, while gross international reserves increased to US$13.83 billion.
On the back of the improved results, the board proposed a dividend of GH¢0.060 per share for the 2025 financial year, representing a 7.14 percent increase over the previous year’s payout.
According to the company, the increase marks the first rise in dividend payments in three years and signals growing confidence in its financial outlook.
Operationally, Mr. Archer said GOIL continued to pursue efficiency gains through automation and process optimisation while maintaining its focus on health, safety and environmental standards.
He noted that the company attained ISO 45001:2018 certification during the year and retained its ISO 9001 and ISO 14001 certifications.
Looking ahead, Mr. Archer said plans to expand storage capacity to 12,000 metric tonnes by the end of 2026 remain on track.
He added that increased investment in road infrastructure is expected to support growth opportunities for the company’s bitumen business in the coming years.
The company also said it continued to support projects in health, education, water and sanitation through its corporate social investment programme.
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