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Business News of Monday, 31 October 2011

Source: citifmonline

Companies on Ghana Stock Exchange make profit

Most of the listed companies on the Ghana Stock Exchange are posting some good profits at the end of the third quarter of 2011.

Enterprise Group Limited increased its profits after tax by 57 per cent. It improved its profits before tax by 39 per cent.

The insurance company relisted on the Exchange sometime in 2010, under its new name, Enterprise Group Limited.

Most of the banking stocks performed creditably well.

Following hints from Managing Director of the Ghana Commercial Bank(GCB), Simon Dornoo, of ending the year on a profitable note, the commercial bank also saw its profits after tax increase by 6. 5 per cent.

Ecobank Transnational Incorporated (ETI) results still look strong heading for the end of the year while Standard Chartered Bank, Ghana also made some good profit at the end of the quarter.