The Benso Oil Palm Plantation Limited (BOPP) raked in a profit of GH¢9.59million last year as against GH¢2.67million in 2010.
As a result, the company declared a total dividend of GH¢2.4million out of a total profit of GH¢9.59million to be paid to its shareholders.
The profit, which represents an approximate increase of 25 percent, was due to the increase in volumes, upward movements in the world market price of crude palm oil, and the positive impact of cost-saving initiatives as well as best management practices embarked upon by the company.
Mr. Ishmael Yamson, Chairman of Board of Directors of BOPP, announced these at their annual general meeting at Takoradi on the theme “Sustainable agriculture”.
He said the company processed 82,154 metric tonnes of fresh fruit, representing an increase of 30 percent as compared to the year 2010.
Mr. Yamson said the success was due to good rainfall pattern and good agronomical practices which contributed to higher productivity.
He said the company also purchased 38,901 metric tonnes of fresh fruit bunches, representing 47 percent of the total production at a cost of GH¢5.8million from smallholders and outgrower farmers in the Western and Central Regions, which created considerable wealth in the catchment rural economies.
He said operating profit went up by 282 percent from GH¢2,426,000 in 2010 to GH¢9,267,000 in 2011, and that in addition to high prices of crude palm oil and increase in volumes, the company continued with its cost-savings and efficiency measures to improve its performance.
The company paid a dividend of GH¢2.4million out of a total profit of GH¢9.95million for 2011, according to Mr. Yamson.
He said the company is supporting 18 brilliant but needy students in Senior High Schools at Adum-Banso, Benso, Adum-Dominase and Manso in the catchment area.
