GOIL PLC reports 7.05% net profit increase to GH¢90.67m

GOIL PLC recorded a 7.05 per cent increase in net profit for 2025, reaching GH¢90.67 million, according to the 2025 State Ownership Report released by the State Interests and Governance Authority (SIGA). This growth occurred despite an 8.91 per cent decline in operating revenue, which fell from GH¢20.36 billion in 2024 to GH¢18.55 billion in 2025.

The increase in net profit was attributed in part to a substantial reduction in income tax expenses, which dropped from GH¢46.37 million to GH¢27.11 million. While net profit rose, profit before tax declined from GH¢353 million to GH¢336.67 million, and operating profit fell from GH¢244.92 million to GH¢230.02 million.

Despite the rise in net profit, returns on assets and equity saw moderate declines. Return on assets fell from 2.85 per cent to 2.53 per cent, and return on equity decreased from 9.47 per cent to 9.14 per cent, as asset and equity growth outpaced profitability gains. The company maintained a cost recovery ratio of 101.04 per cent.