NewzGOIL PLC recorded a 7.05 per cent increase in net profit in 2025 despite a substantial decline in revenue, according to the 2025 State Ownership Report. The state-controlled oil marketing company’s net profit increased from GH¢84.70 million in 2024 to GH¢90.67 million in 2025. The improvement came despite operating revenue falling by 8.91 per cent, from GH¢20.36 billion to GH¢18.55 billion during the period.
Total revenue similarly declined from GH¢20.43 billion in 2024 to GH¢18.59 billion in 2025, while profit before tax fell from GH¢353 million to GH¢336.67 million. The report attributed the increase in net profit partly to a significant reduction in income tax expenses, which declined from GH¢46.37 million in 2024 to GH¢27.11 million in 2025. GOIL’s net profit margin consequently improved from 0.41 per cent to 0.49 per cent, while its operating profit margin edged up from 1.20 per cent to 1.24 per cent.
Operating profit, however, declined from GH¢244.92 million in 2024 to GH¢230.02 million in 2025. The company maintained full cost recovery, posting a cost recovery ratio of 101.04 per cent. The report said GOIL had consistently maintained a cost recovery rate slightly above 100 per cent over the past five years.
The performance came amid what the report described as a challenging operating environment marked by fuel price volatility and tightening margins in the downstream petroleum industry. The report is released by the State Interests and Governance Authority (SIGA) on Monday, August 31. Returns on assets and equity fall Although GOIL’s net profit increased, returns on its expanding assets and shareholders’ funds declined moderately.
Return on assets fell from 2.85 per cent in 2024 to 2.53 per cent in 2025, while return on equity decreased from 9.47 per cent to 9.14 per cent. The report explained that the company’s asset and equity growth outpaced the increase in profitability, resulting in lower returns. GOIL’s total assets increased by 1.53 per cent, from GH¢4.81 billion in 2024 to GH¢4.88 billion in 2025.
Its non-current assets also expanded from GH¢1.66 billion to GH¢1.84 billion. The company’s equity position strengthened by 10.90 per cent, rising from GH¢894.08 million in 2024 to GH¢991.54 million in 2025. According to the report, the improvement was mainly supported by an increase in retained earnings from GH¢643.22 million to GH¢707.66 million.…
Summary from source