From financial distress to profitability: Ghana Publishing posts GH¢17m profit in 2025 – MD
The Ghana Publishing Company Limited (GPCL) has recorded a significant financial turnaround, posting a profit after tax of approximately GH¢17 million in 2025, following a period of severe liquidity challenges.
The Managing Director of the company, Nana Kwasi Boaitey, disclosed this during the Government Accountability Series, where he accounted for the company’s performance and outlined measures implemented since assuming office in February 2025.
According to him, the company moved from a difficult financial position to improved profitability through operational reforms, financial discipline, revenue mobilisation and investments in modern printing infrastructure.
Presenting the company’s audited financial results, Mr Boaitey revealed that profit after tax increased from GH¢2.23 million in 2024 to GH¢16.96 million in 2025, representing a 661.36 per cent growth.
He further disclosed that revenue rose from GH¢60.78 million in 2024 to GH¢72.85 million in 2025, representing a 19.87 per cent increase.
Gross profit also increased by 49.76 per cent, from GH¢23.38 million to GH¢35.01 million, while operating profit surged by 564.66 per cent to GH¢19.58 million.
Profit before tax similarly increased by 572.92 per cent, rising from GH¢3.41 million in 2024 to GH¢21.44 million in 2025.
“Ultimately, profit after tax, after the audit, was GH¢16,959,883. This is compared to the 2024 figure of GH¢2,227,563. Again, this is an increase of 661.36 per cent in terms of profitability for the Ghana Publishing Company in the 2025 year alone,” he said.
Mr Boaitey attributed the improved performance partly to the introduction of a three-shift operational system under President John Dramani Mahama’s 24-hour economy initiative.
He explained that management introduced the system within three weeks of taking office to address the company’s liquidity challenges without resorting to layoffs, despite concerns about overstaffing.
He said the initiative extended the company’s operational hours, improved customer service and created additional revenue streams.
“The regular gazette, which took eight weeks, now takes three weeks. And the premium service that we gave, which also took one week, has now been reduced to three days,” he stated.
He added that the company had also introduced a 24-hour gazette processing service to cater for customers who required urgent publication services.
Beyond the operational changes, Mr Boaitey said management had undertaken major structural reforms to improve efficiency and strengthen the company’s internal operations.
He disclosed that new departments, including quality control, legal, commercial sales and corporate affairs, had been established to address longstanding operational gaps.
He noted that the introduction of a quality control department had helped reduce production wastage and improve the quality of printed materials, while the commercial sales department was established to strengthen the company’s business development efforts.
On infrastructure development, the Managing Director revealed that the company had established a modern digital press centre, which was inaugurated by President Mahama in January 2026.
He further disclosed that GPCL had invested €1.5 million in equipment for a security printing press expected to arrive in November 2026.
According to him, the facility would enable the company to expand into the printing of security documents, including cheque books and passports.
In addition, the company has introduced an electronic gazette platform and an online e-bookshop to allow customers to apply for gazettes and purchase Acts of Parliament without visiting its offices.
Mr Boaitey also disclosed that Cabinet had approved a decision for 20 per cent of all government printing work to be allocated to the Ghana Publishing Company, a move he said would provide further opportunities for revenue growth.
He expressed optimism that the company would surpass its 2025 financial performance by the end of 2026, citing the ongoing reforms and expected government printing contracts.
However, he acknowledged that the company was yet to overcome all its financial difficulties, revealing that management had been notified of an outstanding GH¢22 million VAT liability owed to the Ghana Revenue Authority (GRA).
“The record shows that the VAT for 2020 and 2024 were not paid by the company at all. And currently, we are in negotiations with GRA to ensure that this GH¢22 million debt, which is VAT, will be taken care of in the course of time,” he said.
Despite the outstanding liability, Mr Boaitey assured Ghanaians that the company was on a recovery path and that management remained committed to sustaining its financial gains.
“This is a company that has clearly come from the depths of financial distress to some significant reprieve. And hopefully, if we continue on this trajectory, the company should be able to post significantly stronger performances going forward,” he added.
