Ayrton Drug Manufacturing Limited recorded a turnover of GH¢ 24,077,076 in 2013 as against GH¢ 22,872,394 in 2012, an increase of 5.27 percent.
However, the profit of the company declined from GH¢ 2,476,026 in 2012 to GH¢ 340,806, in 2013, a decrease of 86 percent.
Mr Richard Adu-Poku, Chairman of the Board of Directors of the company, announced these at the company’s Annual General Meeting in Accra on Thursday.
He said the election petition slowed down business activities and the election pressure led to inflationary pressures in the economy and its resultant increases in operational costs.
Mr Adu-Poku said the company continued with consolidation and market drive to increase market share of existing products, through distribution the channels of the company and other channels of distribution for the products.
The Board chairman said national demand for the company’s products continued to grow, Continued to drive the growth in our profits””.
“In line with our five-year strategic plan, we have decided to draw up plans for the construction of a new purpose built facility. We believe when completed this facility will enhance our production levels a great deal and will ultimately affect our bottom-line positively,” he said.
He expressed the hope that the approach will yield the needed results not only in increasing the sales threshold but also to augment the company’s foreign exchange earnings.
No dividend was recommended for payment to the shareholders for the year. GNA