Dannex Ayrton Starwin posts GH¢29,286,509 gross profit

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Dannex Ayrton Starwin
Dannex Ayrton Starwin

The Dannex Ayrton Starwin PLC in its first-year operation posted a gross profit of Ghc29,286,509.

The company also recorded a turnover of Ghc65,918,268 whilst total assets came to Ghc52,296,518 in the year under review.

Mr Nick Amarteifio, the Board Chairman of the company, disclosed this at the company’s First Annual General Meeting in Accra on Thursday.

He said the company recorded a Total Liabilities of Ghc45,510,879 with Total Equity standing at Ghc6,785,,639.

Mr Amarteifio said the three companies merged their operations and became a legal entity some three years ago and listed on the Ghana Stock Exchange in 2020 was now trading under the name DAS Pharma, to create a leading pharmaceutical manufacturing and distribution company in Ghana and West Africa sub-region.

He said the year 2020 was a difficult year for the world economy and Ghana was no exception adding that most businesses were negatively affected globally as a result of the Covid 19 pandemic.

Mr Amarteifio said companies collapsed, profits plummeted and sadly many people lost their lives.

He said despite these challenges the Board through the management were able to safeguard the safety and wellbeing of employees in ensuring business continuity.

‘The company ensured that there were no job losses by putting in pragmatic measures to curb the effect of the pandemic’, the Board Chairman said.

‘Our earnings however fell short of our plans and expectations for the period. We believe our business has attained its reputable public entity because it has been built on transparency’, Mr Amarteifio said.

He said the company has a Corporate Social Responsibility (CSR)that seeks to involve the company, its employees, and other relevant stakeholders in the communities it operates and in the country as a whole.

“DAS Pharma supports various activities from recognized organizations, communities and individuals as well as initiate its programmes and projects that would bring lasting benefits to communities and society,” Mr Amarteifio added.

Mr Daniel Apeagyei Kissi, Chief Executive Officer of the company said the company will continue to apply a sound operational control system to safeguard the interest of shareholders.

He expressed the hope that the board and the management would work harder than before to ensure profitability.

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