TotalEnergies Marketing Ghana PLC reported group profit after tax of GH¢221.847 million for the nine months ended 30 September 2026, compared with GH¢264.395 million in the corresponding 2025 period.
That is a calculated decline of 16.1%. These are consolidated group figures, including Ghanstock Limited Company, in which TotalEnergies Ghana holds a 55% stake.
Lower sales and higher operating expenses
Revenue fell to GH¢4.205227 billion from GH¢5.134613 billion, a calculated decline of 18.1%. Gross profit decreased to GH¢647.248 million from GH¢701.298 million despite a reduction in the cost of sales.
General, administrative and selling expenses increased to GH¢337.267 million from GH¢311.067 million. Operating profit consequently fell to GH¢349.756 million from GH¢412.255 million.
Finance costs provided some relief, declining to GH¢12.236 million from GH¢27.823 million. Other income rose to GH¢39.132 million from GH¢19.848 million, but these improvements did not offset the pressure on operating earnings.
Reported group earnings per share fell to GH¢1.9830 from GH¢2.3633.
Cash generation and shareholder payments
Operating activities generated GH¢236.971 million in cash, compared with GH¢246.079 million previously. Dividend payments during the period totalled GH¢261.506 million.
The cash paid in dividends therefore exceeded operating cash generation. These are payments already reported in the accounts, not a fresh dividend declaration.
At the reporting date, bank overdrafts stood at GH¢159.027 million against cash and cash equivalents of GH¢109.221 million. Current liabilities exceeded current assets by a calculated GH¢55.892 million.
Why this matters
Investors need to consider liquidity alongside earnings. Positive operating cash flow is useful, but shareholder distributions and short-term obligations also place demands on cash.
The figures do not establish that a payment will be missed. They show why the relationship between operating cash, overdrafts and near-term liabilities deserves attention.
Future results will help establish whether sales stabilise and expenses become easier to absorb. Monetary amounts here preserve the values in Wallflake’s report, which converted the filing’s GH¢’000 units into full cedi amounts.
