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CFAO Ghana Limited posted a net profit of GH ¢ 7,702,292 in 2020 compared to GH ¢ 6,098,941 in 2019, representing an increase of 15 percent.
The turnover also increased from GH ¢ 163,597,000 in 2019 to GH ¢ 174,339,000 in 2020, which represents an increase of seven percent.
Paulo Fernandes, chairman of the company’s board who revealed this at CFAO’s annual general meeting in Accra, said that with the onset of the COVID-19 pandemic, the company’s main goal was to protect employees and customers and , therefore, implement all security measures.
Fernandes, who is also the Managing Director of the Company, said that as part of the Company’s Corporate Social Responsibility, he donated two Pick-Up vehicles to the Ghana Covid-19 Management Committee to support the fight against the pandemic.
He said that in pursuit of customer satisfaction, the Company introduced new products and services that include; Auto Life CFAO, which in association with Allianz Life, offered five-year life insurance for anyone who purchased a vehicle from the Company and CFAO Auto Finance, which gave customers access to an auto financing service at a 18 percent fixed-term interest for periods ranging from one to five years with a 25 percent deposit.
Mr. Fernandes expressed the hope that shareholders will continue to support the Company in the coming years to turn it into a more prosperous and profitable business.
It was recommended to pay shareholders a dividend of GH ¢ 0.0143 per share, which represents an increase of 25%.
Source: GNA
