Digicut Production and Advertising PLC’s audited financial statements for the year ended December 31, 2025, expose a worsening cost structure that continued to undermine the company’s revenue gains, with staff expenses surging 64 percent and general and administrative costs reaching their highest level in at least five years.
Wages and salaries climbed to GH¢337,048 from GH¢199,011 in 2024, while total staff costs including medical insurance rose to GH¢354,793 compared with GH¢215,701 a year earlier. The increases contributed to general and administrative expenses of GH¢969,048 for the year, a 22.7 percent rise from GH¢789,835 in 2024 and a figure that alone exceeded the company’s total revenue of GH¢820,240.
The pattern stretches back across five years. General and administrative expenses stood at GH¢279,013 in 2021 and have expanded more than threefold since, while revenue over the same period grew from GH¢183,701 to GH¢820,240. The gap between cost growth and revenue growth has consistently widened, producing losses in every year from 2021 through 2025.
The 2025 audited accounts, prepared under International Financial Reporting Standards (IFRS) and audited by BETA and Associates Chartered Accountants, also record a deferred tax liability of GH¢31,839, a new entry that did not appear in the prior year and which contributed to the final net loss after tax of GH¢554,589, compared with GH¢351,130 in 2024.
Other significant cost lines include office running expenses of GH¢115,291, up sharply from GH¢9,866 in 2024, and maintenance and repairs of GH¢137,587. Depreciation charges more than quadrupled to GH¢119,144 from GH¢28,997, reflecting capital investments made in recent periods.
On the revenue side, printing and production emerged as the largest contributor at GH¢326,660, a segment with no recorded income in 2024. Branding brought in GH¢237,030, while billboard space rentals generated GH¢176,964. Event production, which contributed GH¢208,239 in 2024, fell to GH¢41,855.
Total equity declined to GH¢1,691,490 from GH¢2,205,079, as accumulated retained losses deepened to GH¢1,412,321. The board of directors did not recommend dividends, citing the debit position of retained earnings under Section 146 of the Companies Act, 2019 (Act 992).
Digicut, listed on the Ghana Stock Exchange (GSE) under the ticker DIGICUT since April 2018, has 118,890,621 shares outstanding. The statutory audit fee for 2025 was GH¢18,500.
