Profits for TotalEnergies Marketing Ghana PLC have witnessed a 26 percent after tax slump through the course of the first quarter which ended on 31 March 2026.
According to figures by the company, the fall in profits went from GH¢81.7 million in the same period last year to GH¢60.4 million.
During this period revenue had witnessed a sharp drop to GH¢1.177 billion from GH¢1.885 billion, representing nearly 38 percent in reduction.
”Cost of sales also fell, but not enough to protect the bottom line, coming in at GH¢948.9 million compared with GH¢1.658 billion in the prior year quarter” said a report published on the Graphic on Monday.
”Operating profit before financing cost fell to GH¢106.2 million from GH¢136.4 million, pressured by a rise in general, administrative and selling expenses, which increased to GH¢124.6 million from GH¢103.7 million” the report indicated.
According to The Grahpic report, TotalEnergies Ghana PLC also ”recorded an impairment charge on trade receivables of GH¢9.6 million, a sharp reversal from a release of GH¢1.7 million in the prior year”.
WN/as/APA