GOIL PLC, Ghana’s indigenous oil marketing company, reported a net profit after tax of GHS 90.67 million for 2025. This profit marks a 7.05% increase from the GHS 84.70 million recorded in 2024.
This profit growth occurred despite a decline in GOIL PLC's gross revenue. Revenue fell from GHS 20.36 billion in 2024 to GHS 18.55 billion in 2025. The company's strong performance stems from enhanced operational efficiency and a deliberate focus on cost optimization.
GOIL PLC's improved financial health reflects broader trends within Ghana's corporate sector focusing on efficiency. Companies are seeking to maintain profitability amidst fluctuating market conditions and global economic pressures. This strategic shift helps businesses like GOIL navigate challenging domestic petroleum market dynamics.
Nana Philip Archer, Board Chairman of GOIL PLC, attributed the strong results to these efforts. He stated, “Depot and station expenses, administrative costs, and finance expenses all recorded meaningful reductions.” This demonstrates a commitment to operational excellence and cost control. He further highlighted that total assets increased to GHS 4.88 billion. Significantly, the company also reduced its overdrafts and term loan obligations. The Earnings Per Share (EPS) improved by 6.94%, moving from GHS 0.2160 to GHS 0.2310. The market price of GOIL shares also increased from GHS 1.52 in 2024 to GHS 2.96 by the end of 2025.
Moving forward, GOIL PLC's improved financial standing could lead to increased investor confidence. The company's board declared a dividend of GHS 0.060 per share for 2025, totaling about GHS 23.5 million. This marks the first dividend increase in three years, signalling a positive outlook for shareholders. GOIL PLC also plans to expand the storage capacity of its GOBitumen business. This expansion aims to reach 12,000 metric tonnes by the end of 2026. This move could further strengthen GOIL's market position and drive future revenue growth. The company also intends to maintain strong Health, Safety, Security, Environment, and Quality (HSSEQ) standards. GOIL achieved ISO 45001:2018 certification in 2025, alongside retaining ISO 9001 and ISO 14001 certifications. These certifications reinforce GOIL’s dedication to global best practices.