The Bulk Oil Storage and Transportation Company Limited (BOST) recorded a strong financial performance in its 2024 financial year, posting a profit of GH¢398 million on revenues of GH¢1.29 billion.

This marked a significant turnaround in BOST's financial trajectory, following years of challenges as a state-owned entity.

According to its financial statements, BOST's profit margin surged to 30%, with a Return on Assets (ROA) of 15% and a Return on Equity (ROE) of 58.8%.

These figures highlight steady growth for BOST since 2020, when it recorded a loss of GH¢292 million. The company returned to profitability in 2021 with a profit of GH¢163.9 million, followed by GH¢342.5 million in 2022 and GH¢208 million in 2023.

A report cited by GhanaWeb Business indicated that BOST turned around its fortunes through strategic reforms.

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Strategic interventions driving change

As a state-owned entity, BOST struggled for years with issues of transparency, innovation, and infrastructure, which led to significant losses in pricing and profit margins.

The report also stated that BOST invested heavily in technological infrastructure to modernise its operations.

New systems included ERP, leak and intrusion detection, depot terminal management, GPS fleet tracking, automated systems, business intelligence and strategy management platforms, and performance management tools, all of which enhanced efficiency and transparency.

With these technologies in place, BOST transformed its operations, reduced inefficiencies, and increased accountability across the board.

BOST's evolution from a loss-making entity to a profitable national asset has been driven by a series of strategic plans, reforms, and targeted investments.



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