The Bulk Oil Storage and Transportation (BOST) observed a significant growth in its revenue assets in the year 2022.

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The company saw a 112 percent rise in its net profit after income tax from GHS160 million in 2021 to over GHS342 million in 2022.

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Board Chair of BOST, Ekow Hackman, made this known during the company's 2nd Annual General Meeting (AGM) on Thursday, August 17, 2023.

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Revenue assets grew by 97 percent at the end of 2022.

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Operational profit increased by 69 percent from GHS254 million recorded in 2021 to GHS428 million in 2022.

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According to Mr Hackman, the growth recorded can be attributed to the financial arrangement, retention initiative and good customer service employed by BOST.

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In 2021, BOST recorded a negative equity of GH248 million. Currently, the company holds a positive equity with a value of GHS86 million.

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However, the shares of BOST margin decreased by 10 percent from GHS380 million.

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Nonetheless, the BOST Chair notes that the goal of the Board is to ensure profit becomes an annual tradition.

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In his remarks, the Director-General of the State Interests and Governance Authority (SIGA), Amb. Edward Boateng, commended BOST for its growth.

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He singled out the Managing-Director of BOST, Edwin Provencal for has remarkable leadership.

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"We thank you for giving us this good example. We will continue to work hand in hand with you so you continue to achieve your objectives," Mr Boateng added.

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