The Bulk Oil Storage and Transportation Company (BOST) has announced a notable financial achievement with a reported profit of GH¢208 million for the year 2023.
BOST’s Board Chairman, Ekow Hackman, made the revelation during the company’s Annual General Meeting (AGM) held in Accra on Friday. Hackman highlighted the substantial improvement in BOST’s financial position, noting a transformative shift from a negative equity of GH¢248 million in 2021 to a positive equity of GH¢277 million by the end of 2023.
“The overall financial performance of BOST continues to demonstrate remarkable improvements due to prudent management practices,” Hackman affirmed. “This positive equity growth provides a solid foundation for future growth initiatives.”
Hackman further disclosed that BOST’s profitability for 2023 marked a decline from GH¢342 million in 2022 but represented a cumulative profit of GH¢710 million over the past three years, including GH¢160 million recorded in 2021.
The AGM underscored BOST’s commitment to sustaining financial resilience and operational efficiency amid evolving market dynamics in Ghana’s energy sector.
The company’s strategic focus remains on enhancing storage capacity, optimizing logistical operations, and maintaining robust financial health to support national energy security objectives.
