Benso Oil Palm Plantation PLC is attributing its half-year growth of 63% to the bullish world market crude palm oil prices coupled with the higher crop productivity from both the nucleus plantation and the smallholders and outgrowers.

Operational efficiencies have also seen sustained high levels and continues to improve while cost practices have ensured that unit production cost have remained controlled in line with plan.

The company’s profit for half-year stood at ¢37.8 million, representing 289% of prior year levels and 198% of plan.

Full year profit recorded in 2020 was ¢24.6 million compared ¢9.8 million in the prior year, representing 256% growth.

BOPP said this performance comes on the back of the sustained operational efficiencies, strong production volumes and the recovery of world market crude palm oil prices which begun early 2020.

Executive Director & General Manager, Samuel Avaala, announced that BOPP is set to maintain the strong profit trend to the end of year by leveraging on its core competencies for production and taking advantage of the bullish world market price trend.

The company therefore expressed commitment to conduct its business in a socially responsible and ecologically sustainable manner through to use internationally accepted best practices which deliver sustainable stakeholder and shareholder value.

BOPP has witnessed improved consistent performance in its share price on the Ghana Stock Exchange.