BOPP of Ghana Rises Most in 8 Months on Profit: Accra Mover
The stock rose 10.3 percent to 1.6 cedis as of 1:37 p.m. in the capital, Accra, the biggest increase since Feb. 1.
“It was in reaction to the third-quarter results released by the company yesterday,” Hilary Lomotey, a trader at NewWorld Securities Ltd. in Accra, said by phone. “We still expect demand for the shares in coming days on this performance.”
The company, also known as BOPP, said net income climbed by half to 10.9 million cedis ($5.8 million). Revenue increased to 34.7 million cedis from 29.7 million cedis a year earlier, the company, based in Ghana’s port city of Takoradi, said yesterday.
Singapore-based Wilmar International Ltd. (WIL) acquired 88 percent of BOPP in March last year after buying the 58 percent stake of Unilever Ghana Ltd. and shares from other institutional investors.
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