In a remarkable turnaround, Bulk Oil Storage and Transportation (BOST) has announced its first profitable year in recent history.
According to Managing Director Dr. Edwin Alfred Nii Obodai Provencal, the company made a significant profit of 161 million cedis in 2021, followed by an impressive increase to 342 million cedis in 2022.
This achievement marks a major milestone for BOST, which had previously struggled with losses amounting to 450 million cedis in 2016.
Dr. Provencal attributed the company’s success to improved efficiency, reduced expenses, and strategic management decisions.
“We’ve worked hard to streamline our operations, reduce waste, and increase productivity,” he said.
“Our staff have been instrumental in this turnaround, and we’re proud to reward them with bonuses for their hard work.”
The profit announcement is a welcome relief for the energy sector, which has faced challenges in recent years. BOST’s success is expected to have a positive impact on the industry as a whole.