Bangas Limited Reports Unaudited Earnings Results for the Second Quarter and Half Year Ended December 31, 2013
January 28, 2014
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Bangas Limited reported unaudited earnings results for the second quarter and half year ended December 31, 2013. For the quarter, the company reported turnover of BDT 37,224,018 compared to BDT 34,872,246 for the same period a year ago. Operating profit was BDT 8,091,466 compared to BDT 5,771,683 last year. Net profit before WPPF was BDT 8,122,466 compared to BDT 5,782,772 last year. Net profit before tax was BDT 7,716,343 compared to BDT 5,493,633 last year. Net profit after tax was BDT 5,594,348 or BDT 1.53 per share compared to BDT 3,982,884 or BDT 1.09 per share last year.
For the half year, the company reported turnover of BDT 68,378,917 compared to BDT 66,144,720 for the same period a year ago. Operating profit was BDT 15,025,363 compared to BDT 10,862,337 last year. Net profit before WPPF was BDT 15,143,547 compared to BDT 10,968,642 last year. Net profit before tax was BDT 14,386,370 compared to BDT 10,420,210 last year. Net profit after tax was BDT 10,430,118 or BDT 2.85 per share compared to BDT 7,554,652 or BDT 2.06 per share last year. Net asset value was BDT 32.42 per share as on December 31, 2013. Cash used in operating activities was BDT 1,872,991 compared to cash flows from operating activities of BDT 692,900 last year. Net operating cash flow was BDT 0.51 compared to negative BDT 0.19 per share last year.
Bangas Limited is a Bangladesh-based company, which is engaged in manufacturing bread and biscuits (sweet and salted). The principal activity of the Company is to carry on automatic and semi-automatic bread and biscuit manufacturing and deal in bread, flour, biscuits, pastry, cakes, confectionery, and other farinaceous food products. It sells its products to both local and to customers abroad. The Companyâs products include Grand Choice, Evening Touch, Wonder, Mango Cream, Pineapple Cream, Choco Cream, Fruity Cream, Treat, and Rainbow Cream. The Company exports its products to Bhutan, Singapore, Nigeria, Oman, Canada, United Kingdom, United States of America, and Australia.