Ayrton Drug Manufacturing Limited had consolidated and aligned its operations with parent company, Dannex limited, to ensure profitability. The Company had also put in place an effective system that would help protect the environment, its assets and stakeholders.
Mr Richard Adu-Poku, the Board Chairman of the Company, disclosed this at the Annual General Meeting of the Compnay in Accra on Wednesday. Net profit of the Company declined from GHC2,598,241 in 2016 to GHC 2,285,975 in 2017, while Turnover also decreased from GHC38,772,241 in 2016 to GHC 35,016,240.
Mr Adu-Poku said many important changes in management and strategies had taken place to ensure it regained its competitiveness. He said Ayrton Drug would continue to apply a sound operational control system in order to safeguard the interest of shareholders.
The Board Chairman said the Company had adopted standard accounting practices that would facilitate transparency in the disclosure of formation and the reliability of the financial statements.
Mr Adu-Poku said corporate governance was a key factor for the Company, adding that; “We believe the long history as a reputable public entity has been possible because the business has been built on transparency’.
”We always put the interest of our wider stakeholders at the forefront of every decision we make,” he added.
No dividend was recommended for payment to the shareholders.