GOIL filling station

On the Ghana stock exchange

GOIL’s recently released earnings report for Q1-2018 indicates that the company grew its profits after tax by 14%; from GHS 14.44 million in Q1- 2017 to GHS 16.55 million Q1- 2018. The rise in its profits was largely driven by an 8% growth in revenues from GHS 638 million in Q1-2017 to GHS 694 million in Q1-2018. GOIL’s operating expenses rose by 12% from GHS 29.7 million in Q1-2017 to 34.16 million in Q1-2018. The company’s earnings per share increased from GHS 0.037 in Q1-2017 to  GHS 0.42 in Q1-2018. GOIL’s return on equity for Q1-2018 stayed at 5% with its return on asset declining marginally to 1.6% in Q1-2018 from 1.7% in 2017.

GOIL’s current ratio which indicates its ability to cover its short-term liabilities declined marginally to 0.8 in Q1-2018 from 0.9 in Q1-2018. The company’s ability to meet obligations on debt measured by the times-interest-earned ratio also declined from 14.1 in Q1-2017 to 9.6 in Q1-2018. The number of times the company also sold and replaced its stock proxied by the inventory turnover ratio fell to 5.34 in Q1-2018 from 5.87 in Q1-2018. GOIL’s total assets grew to 670.42 million in Q1-2018 from 660.8 million in Q1-2017. In terms of its share price performance, GOIL has rewarded investors with a YTD return of 78.43%. GN analysts are optimistic that GOIL’s positive YTD return will be sustained in the coming months anchored on growth in its earnings for Q1-2018.

The composite index inched up by 0.6 points to peg at a YTD return of 34.92%. The Financial stock index remained unchanged at the end of yesterday’s trade. There were 3 gainers [GOIL, EGH & CAL] and 2 losers [EGL & SOGEGH]. RBGH topped the charts in terms of trade as 37,600 shares worth 48,128 changed hands.

On the Ghana Alternative Market

Trading activity on the Ghana Alternative Market was hushed as no shares changed hands.

On the Currency market

The Cedi appreciated marginally against the Dollar but lost to the British Pound and the Euro at the end of yesterday’s trade. The local currency exchanged at a mid-rate of GHS 4.4105 to the USD, GHS 5.9849 to the GBP and GHS 5.2286 to the EURO at week close. The GCFM Cedi index, a measure of the holistic performance of the Cedi on the interbank market now records a year-to-date appreciation of 0.40%.


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