25/05/2024
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AlphaRoyal Publications LTD. has recorded an impressive growth performance across key indicators of its operations for the year ended 31st December, 2023.
The revenue of the company increased by 32%, from GHS 2.812million in 2022 to GHS 3.7million in 2023, with a marginal improvement in liquidity ratios from a previous position of 1.43 to 1.64 in 2023. The net profit after tax for the reporting year was GHS87,464 up from GHS66, 179 in the previous period representing 32% improvement.
This was contained in a report of the Directors represented by its Managing Director, Mr. Emmanuel K. Effah-Dennis, during the companyβs 4th Annual General Meeting (AGM), held at the Methodist Headquarters, Wesley Towers, Ambassadorial enclave, Ridge, in Accra, on Wednesday, May 22, 2024.
Delivering his maiden address, the Board Chairman, Mr. Kwasi Attah-Antwi, seized the opportunity to thank members of the Registered Trustees, representatives of the shareholder, for giving him the opportunity to chair such a noble organization for the next three years. He also paid glowing tribute to his predecessor, William Orleans Oduro, Esq., the Immediate Past Board Chairman. He noted that the sound measures adopted for the company yielded the results achieved and commended all stakeholders for their efforts.
The Methodist Church Ghana, being a 100% shareholder of the company received a dummy cheque of GHS 45,000 as dividends, representing 51.4% of the profit for the year. The Presiding Bishop of the Church, Most Rev. Dr. Paul K. Boafo, in receiving the cheque, thanked the company for maintaining its relevance and staying afloat in the midst of the economic difficulties. In turn, the shareholder gave back the cheque to the company to plow back into the operations of the business; this, the company, through a Director, Mrs. Agatha Ennin Osei, expressed its appreciation to the Church for the gesture.
The company currently operates from a two-room office space from the Wesley House which is woefully inadequate to contain the equipment used for operation and allow for expansion of the business. The Board, in an effort to revitalize the fortunes of the business, has made a request that the Church assigns the parcel of land to the west of Wesley Towers measuring 18m x 51m and with an area of 0.13 acres or 0.051 hectares, to construct a state-of-the-art Printing Press albeit a permanent office for the Company.
In response, the Presiding Bishop indicated that the Registered Trustees will critically consider the request and hoped that concrete decisions will be reached.
Members of the Registered Trustees (shareholder) present were; Most Rev. Dr. Paul K. Boafo (Presiding Bishop), Rt. Rev. Micheal A. Bossman (Administrative Bishop), Mr. Joseph A. Aryitey, Esq. (Member), Major Daniel Ablorh-Quarcoo (Rtd) (Member), and Abena Duma Aidoo, Esq. (Ag. Legal Coordinator).
The Directors were represented by Mr. Kwasi Attah-Antwi (Board Chairman), Mr. Emmanuel K. Effah-Dennis (Managing Director), Very Rev. Emmanuel Kobena Aryee (Director), Mrs. Agatha Ennin Osei, (Director) and Mr. Augustine Boakye-Mensah, Esq. (Company Secretary).
The principal activities of Alpharoyal Publications LTD. are General Printing, Publishing and General Business.
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