TDC record significant profit for 2018

The comprehensive income of the company for the period amounted to GH75.7 million as against GH54.25 million in 2017.

This amount represent a growth of 40 percent over the previous year.

Managing Director, Ms. Alice Abena Ofori-Atta made this disclosure during the company’s first Annual General Meeting (AGM) held in Tema.

She attributed the significant improvement in growth for the period to improved revenue from rental and other property operating in come and estate development.

Ms. Ofori-Atta the above attribution was a rise in the revenue from 41 percent of GH49.33 million in 2017 to GH 69.36 million in 2018.

She indicated that “as a result of our efficient management of resources by reducing costs and improving our investment income. We closed the year 2018 with a Profit Before Tax of GH31.85 million which represents a 138 percent growth from the 2017 figure of GH13.40million.

“The company’s Profit After Tax of GH24.22 million in 2018 represents a 130 percent growth from the GH10.55 million achieved in 2017. Operating profit margin increases from 25 percent in 2017 to 38 percent in 2018 and Net Profit margin also improved from 27 percent in 2017 to 46 percent in 2018.”

By:Michael Creg Afful

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