2019: Intravenous Infusions announces 14.2% increase in revenue

2019: Intravenous Infusions announces 14.2% increase in revenue

- Intravenous Infusions Limited, a manufacturer of pharmaceutical products, has announced details of its performance in 2019

- It's board chairman, Isaac Osei, revealed that the company recorded a 14.2% increase in revenue in 2019

- He added that it also recorded a 10% increase in its profit level for the same period

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Intravenous Infusions Limited (IIL), which manufactures pharmaceutical products, recorded a 14.2% increase in revenue for 2019.

YEN.com.gh understands that the company also had a 10% increase in profit margin before tax.

Details from its virtual Annual General Meeting showed that the increase in revenue was recorded across its two main business units.

2019: Intravenous Infusions announces 14.2% increase in revenue
Isaac Osei, Board Chairman of Intravenous Infusions Limited Source: Ghana Web
Source: UGC

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It also emerged that the company successfully leveraged its brand and customer loyalty to increase growth.

Per a report by dailyguidenetwork.com, this comes at a time when there is increased competition.

The chairman of the company’s Board of Directors, Isaac Osei, noted that IIL strengthened its operational efficiencies to support the revenue growth and profit to create value for shareholders and other stakeholders.

According to him, the company is currently in the process of collaborating with the School of Pharmacy at the Kwame Nkrumah University of Science and Technology (KNUST) to add paracetamol IV to its list of products.

He went on to say that IIL has secured a $3.2 loan facility to expand its factory, which would be used to accommodate new equipment.

In other news, the Ghana Interbank Payment and Settlement System (GhIPSS) has recorded a 600% increase in the use of its GhIPSS Instant Pay (GIP) system.

The increase was recorded in the first half of the year 2020 and compared to the same period in the preceding year.

Information available shows that GIP transactions were 2.45 million in 2020 compared to 350,666 for the same period in 2019.

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Source: Yen.com.gh

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