Wednesday, 29 October 2008

CFAO Ghana Limited posts 398% growth

CFAO Ghana Limited is into a bit of everything, distribution and servicing of automobiles, the installation of Otis elevators. The company has leading brands including Renault, Mitsubishi and Bridgestone tyres. CFAO Ghana Limited also undertakes car rentals and other related activities. The company company has just delivered an impressive 398% growth in net profit.

The company has adoption measures resulting in improved efficiency with expenses falling by 15%

There is, however, some slippage since the first two quarters. The even less inspiring performance of the company’s stock is due to retail selling in a thin market. The parent company of CFAO Ghana Limited, CFAO S.A. France holds about 82% of the issued shares .

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