An 8% reduction in expenditure alongside a nearly 20% increase in revenue pushed Ghana Publishing Company Limited to its highest profit in recent years in 2025.

The state-owned printer posted a profit after tax of GH¢16.96 million for the year ended December 2025, up sharply from GH¢2.23 million in 2024, with the performance driven by a simultaneous rise in revenue and significant tightening of costs.

While revenue increased from GH¢60.78 million in 2024 to GH¢72.85 million in 2025, expenditure declined from about GH¢57 million in 2024 to approximately GH¢53 million in 2025.

Gazette operations at the Head Office, which remained the company’s largest revenue source, generated GH¢50.64 million compared to GH¢34.25 million the previous year. At the same time, publishing and inventory sales rose sharply to GH¢5.76 million from GH¢1.51 million, while publication forms also increased modestly to GH¢2.69 million.

On the expenditure side, administrative expenses dropped sharply from GH¢11.09 million to GH¢7.16 million, with the reductions spread across several spending lines.

Hotel expenses fell from GH¢435,635 to GH¢107,662, while subscription costs declined from GH¢479,215 to GH¢140,544.

Similarly, business relation expenses reduced from GH¢618,529 to GH¢146,500, while medical expenses declined substantially from GH¢995,160 to GH¢275,327.

Repair of buildings also fell from GH¢658,145 to GH¢178,054. In the same vein, general expenses dropped significantly from GH¢807,590 to GH¢115,778.

Staff training expenses were also reduced sharply from GH¢876,832 to GH¢122,692, while software support expenses declined from GH¢205,085 to GH¢47,420.

Consequently, gross profit rose significantly to GH¢35.01 million from GH¢23.38 million.

Operating profit also surged to GH¢19.58 million in 2025 from GH¢2.95 million in 2024.

Beyond its core operations, the company recorded GH¢1.55 million in other income, up from GH¢467,862, largely driven by rent income of GH¢1.46 million.

Finance income stood at GH¢306,961 from interest on deposits, treasury bills and staff loans.

After accounting for an income tax expense of GH¢4.48 million, Ghana Publishing closed the year with a net profit of GH¢16.96 million.

Although the 2025 performance represents a major improvement in the company’s finances, the key question remains whether the gains can be sustained over the medium term.