Intravenous Infusions PLC (IIL) has recorded a massive growth in revenue for first half-year of 2021, after making revenue losses in the same period last year 2020.
The growth in Intravenous Infusions Plc revenue by 44 percent, during the first half of 2021, is a welcoming news to its investors who were mulling over 10.5 percent decline in revenue during the same period last year, 2020.
However, the decline in revenue last year was attributed principally to the effects of COVID-19 where volume of sales across all business segments declined considerably. The COVID-19 pandemic placed a heavy toll on both humans and economic development of many countries around the world.
Despite the problems resulting from the rapid spread of the COVID-19 pandemic, Intravenous Infusions PLC noted it chalked some successes in enhancing value to Shareholders.
Moreover, existing controls were strengthened as new ones were introduced, resulting in an increase in operational efficiency at all levels of the organisational value chain. This resulted in operational costs declining by 9.7 percent. Also, it led to an increase in the company’s 2020 over all year on year index by 18.1 percent.
Intravenous Infusions PLC therefore, made a profit of GHS1,450,885 resulting in an increase in retained earnings by 36.6 percent.
Moreover, the total assets base of IIL also grew by 22.5 percent in the first half-year of 2021. This represents an increase of 14.8 percent of 2020 assets. This can be attributed to the company using both internal and external funds for investments in new plants and equipment and other operating assets aimed at creating future value for shareholders.
Additionally, Intravenous Infusions Limited PLC has obtained approval from Food and Drugs Authority (FDA) for the commencement of the construction of the new factory premises, through a medium term loan facility of $3.2 million secured from Ecobank Ghana Ltd. under the Government of Ghana Stimulus Package for the procurement of plant and machinery and expansion of the factory.
New plant and machinery have also been procured and delivered to the factory awaiting installation. Meanwhile, the board and management are currently sorting out some technical details to make way for the commencement of construction of the new premises.
However, the company is confident about its future despite the effects of COVID-19. Policies aimed at maximizing revenue and profits to shareholders are vigorously being pursued.
Performance of IIL PLC on the GSE
The performance of intravenous Infusion company on the Ghana Stock Exchange has been inconsistent for the past months. The current share price of Intravenous Infusions Limited (IIL) is GHS 0.05. IIL closed its last trading day (Friday, September 3, 2021) at 0.05 GHS per share on the Ghana Stock Exchange (GSE).
Meanwhile, Intravenous Infusions is the eighth most traded stock on the Ghana Stock Exchange over the past three months (Jun 18 – Sep 16, 2021). IIL has traded a total volume of 293,501 shares valued at GHS 14,675 over the period, with an average of 4,659 traded shares per session. A volume high of 100,000 was achieved on July 1, for the same period.
However, many investors will start going through the financial statement of IIL which was released on September 16, 2021 with particularly keen interest to make informed investment decisions.