Benso Oil Palm Plantation makes GHc8.16m profit

The Benso Oil Palm Plantation (BOPP) continues to epitomise sustainable oil palm agribusiness in Ghana as the company made a profit after tax of GH¢8.16 million in 2015.

The Company has thus proposed a total dividend of GH¢1.63 million out of the total profit.

The Chairman of the company’s Board, Mr. Ishmael Yamson, who announced this at the Annual General Meeting, in Takoradi, said the feat was achieved in spite of the unfriendly economic environment.

This, he said, included low commodity prices and weakening microeconomic indicators on the domestic front.

The Company’s production and revenue for 2015 grew by 17 percent and 11 percent, respectively, compared to the previous year’s, while the profit, on the contrary, decreased by 34 percent due to the difficult macroeconomic environment.

Mr. Yamson said, in spite of this, the company’s performance was robust and commendable.

He announced that the Company paid a total of GH¢17.3 million to smallholder and outgrower farmers within the catchment area, which he said, was a sustainable contribution to the socio-economic environment of the area.

As part of its Corporate Social Responsibility (CSR), the Company runs a scholarship scheme, which is currently catering for 14 Senior High School students drawn from four communities in the immediate environs of BOPP.

From its inception in 2007, the scheme has sponsored more than 60 students.

Mr. Yamson said the Company was adjudged the Best CSR Company and the Best Agribusiness Company in Ghana, in 2015.

He reiterated the call for the nation to focus on Agriculture, especially oil palm, and called for a second look at the recent withdrawal of the location incentive and zero rated tax, to attract more investments in agribusiness.

He expressed optimism that BOPP would deliver better performance in the coming year while commending the workers and management for working assiduously to record a good profit.

He also thanked the chiefs and shareholders for their immense contribution towards the sustainability of the Company.