Pharmaceutical company, Dannex Ayrton Starwin PLC remains resolute in restoring profitability after it achieved a revenue of a little over GHS 95 million in 2022 surpassing the over GHS 74 million recorded in 2021.
The company however recorded exchange losses of about GHS 9.1 million under the year of review.
Delivering his address at the 3rd Annual General Meeting of the of Dannex Ayrton Starwin PLC here in Accra, the Board Chairman of the Company, Mr. Nik Amarteifio assured shareholders of their commitment to noted that the company remains resilient in serving consumers and shareholders of pursing sustainable goals and ensuring the ongoing success of business.
“Despite the challenges it faced, the company achieved a revenue of GHS 95,792,613 surpassing the revenue of GHS 74,530,831generated during the period ending 31 December 2021.This growth is attributed to unwavering focus on driving volume growth and competitive pricing,” he announced.
“However, we recorded a loss/profit tax of GHS 3,451,029 in contrast with the profit after tax of GHS 4,881,672 achieved in the previous period ending December 31, 2021, due to the adverse economic environment. This indicates a decline in profitability,” he added.
Mr. Amarteifio further noted that the recent performance of the company in the first half of the year 2023 ‘demonstrate that we are making progress in tackling this crucial issue of profitability and liquidity’.