Bangas returns to profit in the first quarter
Bangas Ltd – the maker of several brands of cookies – posted profits in the first quarter of the current fiscal year.
In the July-September quarter, the company’s earnings per share (EPS) amounted to Tk 0.06.
Due to escalating costs during the pandemic period, it incurred a loss in the same quarter of fiscal year 21 and the loss per share amounted to Tk 0.12.
Its benchmark stock market company Olympic Industries reported declining profits for the same period of FY22.
Its EPS fell to 2.06 Tk in the July-September quarter, compared to 2.85 Tk in the same period a year ago.
But Bangas’ sales and profits had been declining in recent years. According to its published financial data for the first quarter, the net operating cash flow per share was 0.90 Tk, which was negative 0.55 Tk in the same period of the previous year.
Its net asset value (NAV) per share was Tk 21.08, compared to Tk 21.02 as of June 30, 2021.
Bangas Limited, which was listed on the stock exchange in 1984, produces sweet and savory cookies, as well as Bangas brand bread.
Bangas sells Grand Choice, Evening Touch, Lovely, Wonder, Glucose, and Lexus cookies in the local market.
The company produces five tonnes of cookies and five tonnes of bread every day.
In FY21, the company recommended a 4% cash dividend to its shareholders.
During this fiscal year, he made a profit of 17.54 lakh Tk while his EPS was 0.23 Tk.
A year ago the net profit was Tk 46 lakh and the company paid a 5% cash dividend to its shareholders.