Benso Oil Palm Plantation Public Limited Company (BOPP) recorded a net profit of GH¢19.09 million for the first quarter ending March 31, 2026, a sharp decline from the GH¢36.14 million posted in the same period last year, as a stronger Ghana cedi weighed heavily on dollar-referenced revenues.
Revenue fell to GH¢104.40 million from GH¢120.68 million in Q1 2025, even as the company reported higher sales volumes. The gap reflects the cedi’s appreciation against the US dollar, since BOPP prices its products by reference to US dollar benchmarks. Earnings per share dropped to GH¢0.5486 from GH¢1.0384 a year earlier.
Gross profit contracted to GH¢34.45 million from GH¢52.86 million, while operating profit settled at GH¢22.49 million against GH¢42.29 million in Q1 2025. Administrative expenses edged up to GH¢12.24 million from GH¢11.51 million, adding further pressure to the bottom line.
On the balance sheet, total assets grew marginally to GH¢429.79 million from GH¢428.43 million. Cash and bank balances fell to GH¢16.25 million from GH¢43.84 million, partly reflecting GH¢29.02 million in dividends paid to shareholders during the quarter.
Capital expenditure rose to GH¢19.05 million from GH¢12.80 million, signalling continued investment in plantation infrastructure despite the profit squeeze.
The company acknowledged the earnings pressure but maintained a confident tone in its outlook, noting that “strong business fundamentals and resilience will support steady returns for shareholders.” Management said it would continue managing costs across plantation, mill, and corporate operations, while maintaining good agricultural practices to protect future yields.
BOPP said operating conditions for the remainder of 2026 will depend on domestic macroeconomic trends and evolving geopolitical dynamics.
