Ghana Oil Company Ltd. (GOIL), which runs the second-biggest network of gasoline stations in the West African nation, rose to the highest in three days as investors speculate revenue increased because of a new marketing plan.
The stock gained 1 pesewa, or 3.1 percent, to 33 pesewas, as of 2:39 p.m., in Accra, the capital, the highest since Jan. 17.
“We are looking for a turnover growth of about 30 percent for Ghana Oil for the full financial year 2011,” Hilary Lomotey, a stock trader at Renaissance Capital, said by phone from Accra. “The company has been marketing itself in a roll- out strategy that has made its gasoline stations more convenient for customers than before.”
The company’s results are expected by the first week in February, Lomotey said.
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