Intercity STC Coaches Limited significantly reduced its net loss in 2025 despite a decline in revenue, with cost-control measures helping to narrow the company’s losses by more than 90%.

According to the 2025 State Ownership Report by the State Interests and Governance Authority (SIGA), STC’s net loss fell from GH¢69.98 million in 2024 to GH¢5.18 million in 2025, representing a 92.60% reduction.

The company’s operating loss also narrowed sharply from GH¢45.13 million to GH¢4.27 million, while its loss before tax declined from GH¢70.08 million to GH¢4.73 million.

The report attributed the improvement largely to cost-control measures, as well as the impact of foreign exchange gains and losses recorded during the two financial years.

Revenue declines amid operational challenges

Despite the significant reduction in losses, STC’s operating revenue declined by 11.77%, from GH¢178.03 million in 2024 to GH¢157.08 million in 2025.

The report attributed the decline primarily to the inadequate number of operational buses, fare gaps and intensified competition in the transport industry.

Total revenue, including non-operating income, also fell by 30.79%, from GH¢227.43 million in 2024 to GH¢157.39 million in 2025.

Expenditure cuts improve bottom line.

The company, however, succeeded in significantly reducing its expenditure during the year.

Total expenditure fell by 18.70%, from GH¢198.71 million in 2024 to GH¢161.49 million in 2025.

The reduction in expenditure, combined with the impact of foreign exchange movements, helped STC substantially narrow its losses despite the decline in revenue.

The figures point to a marked improvement in the company’s financial performance, although its continued reliance on cost containment alongside efforts to address its operational fleet and competitiveness will remain critical to sustaining the recovery.