Ayrton Drugs records 22.6 per cent revenue growth

Ayrton Drug Manufacturing Limited, recorded net revenue of GH¢34,892,733.00 last year as against GH¢21,338,571.00 in 2014, an increase of 22.64 per cent.

However profit after tax declined to a loss of GH¢4,8822,000.00 in 2015 as compared to GH¢1,846,652.00 in 2014.

Mr Richard Adu-Pku, Chairman of the Board of Directors of the company disclosed this at the company’s Annual General Meeting in Accra.

He said the year under review was challenging and difficult for the company.

Mr Adu-Poku said last year the economy went through difficult times compelling the government to enroll in a three-year International Monetary Fund with its accompanying hardship on the economy.

“This impacted negatively on our performance as most of our raw and packaging materials were imported,” Mr Adu-Poku said.

He said the main generic brands such as Virol, Panacin, Teedar and Samalin range of products continue to drive the growth in the company’s profits.

Mr Adu-Poku key components of the company’s strategy are optimisation, strengthening and expansion of product portfolio,  which would place the company in a good stead to deliver profitable growth.

He said the company had de-listed all loss-making products as part of its business transformation and restructuring strategy, which is beginning to yield fruits.

No dividend was recommended for payment to the shareholders..

Source: GNA