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SamBoad records 12.3% revenue growth in 2023

Business

4 months ago
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SamBoad Business Group Limited has announced remarkable performance in its unaudited financial results for the year 2023, recording impressive growth despite some failed growth of some of its subsidiaries.

This replicates the commendable performance it achieved in the first three quarters of the current fiscal year, 2023.

Specifically, the digital marketing and business solution provider’s gross earnings rose to Ghs 150,000 up from Ghs 80,000 recorded in September 2022, seen as a 12.3% increase in revenue.

The business service provider also continued to maintain a very strong balance sheet, with total assets rising to Ghs 670,000, representing a 9.1 per cent increase over the Ghs 340,457 recorded at the end of December 2022 for three of its subsidiaries.

SamBoad Business Group Limited shareholders’ and investors funds remained very strong again reflecting a strong capacity for internal capital generation and growth in future. 

However, SamBoad has recorded strong revenue growth with some of its subsidiaries and departments, two aspects of its subsidiaries were not doing very well, especially with the SamBoad Express Department, recording a total loss in revenue and assets. What currently holds that department is their partnership with DHL Africa.

Commenting on the result yesterday, SamBoad Business Group Limited’s Founder, Samuel Kwame Boadu, said that the group continued to show notable operating resilience amid significant headwinds in its presence markets amidst heightened global risk environment and some of its subsidiaries not doing well due to a lot of external factors.

He said the business service provider’s strong diversification model and unwavering focus on customer and client satisfaction continues to give SamBoad an edge over its peers in the digital marketing and business service providing industry.

He said, “We continue to reap the benefits of our diversification strategy and Customer -1st philosophy and build resilience in our operations across Ghana to support the mission of providing superior value to our stakeholders, clients and investors.

“This has translated into strong financial gains evident in growth in our revenue. In addition, we are strategically positioned to drive our market share in Ghana, with the strong growth of our digital marketing services and partnership deal offerings,” Samuel Kwame Boadu stated.

“The group’s profitability increased with underlying growth in our diversification strategy and our continuous support to our clients who have partnered with SamBoad Business Group Limited.

“We will therefore in 2024 improve and remain very cautious in risk asset creation as we defensively position our asset portfolios to minimize the impact of the heightened business risk in Ghana Consequently, we will continue to seek for more investment to revamp our fallen subsidiaries and diversify more into other industries,” he concluded.

source: Theannouncergh.com