Dannex Ayrton Starwin rebounds — Post GH¢5.42 million profit in Q1
Ayrton Starwin has bounced back strongly from a loss of GH¢1.02 million in the first quarter of 2023 to post a profit of GH¢5.42 million in the first quarter of 2024.
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This was after the company halved its exchange rate losses from GH¢1.31 million in the first quarter of 2023 to GH¢635.4 million in the first quarter of 2024.
Total revenue also grew from GH¢27.22 million in the first quarter of 2023 to GH¢39.39 million in the first quarter of 2024, with cost of sales also increasing from GH¢12.56 million to GH¢16.36 million.
Administrative expenses also increased from GH¢10.17 million to GH¢12.38 million.
Total assets also grew from GH¢76.32 million in the first quarter of 2023 to GH¢90.47 million in the first quarter of 2024, with total liabilities also growing from GH¢70.46 million to GH¢70.99 million.