fantastic news30 Jul 2010 08:42
another company very much under the rader....
Half year financial highlights
· Net sales increased by 28% to Bangladesh Taka ("BDT") 2,968.7m / £27.3m (2009: BDT 2,314.7m / £21.3m)
o Domestic sales increased 28% to BDT 2,825.9m / £26.0m (H1 2009: BDT 2,207.9m / £20.3m)
o Export sales increased 33.6% to BDT 142.7m / £1.3m (H1 2009: BDT 106.8m / £0.98m)
· Profit before tax increased by 83% to BDT 697.3m / £6.4m (H1 2009: BDT 381.5m / £3.5m)
· EPS increased by 22% to BDT 2.52 / 2.3 pence (2009: BDT 2.06 / 1.9 pence)
· 41,000,000 fully convertible, six-month 5% Preference Shares of BDT 100 (£0.92) each converted. The first conversion, representing 50% of the total amount, occurred in February 2010 at a conversion price of BDT 126.66 / £1.17 and the remainder were converted in May 2010 at a conversion price of BDT 135.59 / £1.25
Second quarter 2010 highlights
· Net sales increased by 34% to BDT 1,642.0m / £15.1m (2009: BDT 1,225.9m / £11.3m)
· Profit before tax increased by 65% to BDT 379.3m / £3.5m (2009: BDT 230.2m / £2.1m)
Operational highlights
· 35 new products registered in overseas markets
· 5 new markets entered: The Netherlands Antilles, El Salvador, Benin, Sudan and Tonga (Pacific Islands)
· 11 generics in a total of 28 products launched including 7 Ophthalmics, 4 injectables and 3 HFA-based inhalers
o HFA inhalers and Napa Extend (a formulation of Paracetamol 665 mg) launched for the first time in Bangladesh
· Remaining three lines of the new Oral Solid Dosage (OSD) facility are being commissioned
· New Metered Dose Inhaler (MDI) facility is nearing completion
· Other projects including Amino Acid (AA) and ION (Injectable, Ophthalmic and Nebulizer) expansion are nearing completion
· The Company received the prestigious Bangladeshi Superbrands Award for 2010-11
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