Ayrton Drug determined to make profit

Ayrton Drug Manufacturing Limited is charting a new path in the pharmaceutical manufacturing industry, to ensure that it pays dividends to its shareholders next year.

The company is also embarking on a restructuring exercise to ensure profitability, to attract more shareholders.

Mr Richard Adu Poku, Chairman of the Board of Directors of the company, disclosed this at the company’s Ninth Annual General Meeting in Accra.

He said currently the company was manufacturing at approximately 63 percent of installed capacity at the second plant at Tesano.

The company recorded a loss of GH?1,584,003.00 last year, as against a loss of GH?340,806.00 in 2013.

Turnover also declined from GH?24,077,076.00 in 2013 to GH?21,338,571.00 in 2014.

Mr Adu Poku said the slow performance of the economy was due to the weakening of the cedi, and the energy crisis was taking a great toll of the performance of the company.

“We see next year to be a year of great challenge to the company,” he said, adding that we have confidence in the management ability to continue to institute prudent cost-savings and other measures to ensure higher profitability.

No dividends were recommended for payment to the shareholders.