Fan Milk PLC’s journey this year is a story of smart moves in tough times, as shown in its unaudited financial statements for the nine months ending September 30, 2024.
The company reported a solid 17% jump in revenue compared to last year, reaching GHc 480.6 million. But it wasn’t all smooth sailing as exports dropped by around 14%, slowing overall growth. Even so, Fan Milk found ways to thrive.
What really stands out is how they transformed profitability. Net profit leaped to GHc 44 million, up from just GHc 16 million last year, pushing their profit margin from 4% to 9%.
The company explains in a statement that this was achieved through decisions, like switching to biomass energy to cut costs and tightening up borrowing expenses. Even with inflation making inputs pricier and exchange rates fluctuating, these steps kept Fan Milk on steady ground.
According to the statement, Fan Milk moved from negative cash flow last year to generating GHc 97.3 million from operations, a clear sign of solid value coming from their core business. It’s the kind of financial cushion that strengthens a company’s footing.
For shareholders, there’s even more good news. Earnings per share almost tripled, rising from GHc 0.14 to GHc 0.38, showing that Fan Milk’s gains are adding real value, not just numbers on paper.
The financial statement reveals that Fan Milk’s assets are now at GHc 631.6 million, up from GHc 531.5 million, and shareholders’ equity climbed to GHc 267.5 million.
Through all this, the board stands firm on transparency, ensuring that these results meet IFRS standards.
